I agree with just about everything said in the above posts. I bought mine with 78,000 back in January 1998. Off the top of my head, this is what I've replaced:

Motor Mounts
Air Pump
EGR
Water Pump
Radiator
Power Steering Pump
Alternator
Starter
Rear Shocks
Spark Plug Wires (though probably not needed)
Rotors/Caps
Front Cam Seals (leaking)
Transmision Rebuild ($3,500 at dealer)
Flex Disks
Driver's Seat Motor
Various Interior Switches and Relays
Blower Motor and Regulator
Wiring Harness
O2 Sensor
Steering Damper Strut
Muffler Donuts
Ignition Tumbler
Transmission Cooler Lines
Fuel Qty Sensor
Rear Sway Bar Plastic Links (both broke within a week of each other)
Cockpit Temp Aspirator Motor

It sounds like a lot, but if you are a DIYer and you're not afraid to work on cars, I think you will appreciate the quality of a Mercedes that was probably designed and built when price was not as much an issue (as it is now).

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1993 400E, 256,000 miles (totaled)
1994 E420, 200,000+ miles
1995 E420, 201,000 miles