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E stands for Economy
S stands for Standard
On 4-gear automatic transmissions, the transmission WILL ALWAYS start in second gear regardless of E or S selected. Five-speed auto transmission will always start on first.
The ONLY difference the transmission program will do is that on "E" (Economy) the next higher gear will be selected sooner at a much lower RPM than on "S". If you do press hard the gas pedal, the program will ignore the "E" setting and perform accordingly to load and speed requirements.
Most techs and mechanics at the dealer have always recommed me personally to leave the switch at "S". The fuel comsuption difference is minimun between settings.
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A. Rosich
CL 500, 1998 
S 500 L, 1998 
E 320 T, 1995  [Sadly sold  ]
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