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I've got one, and its a great car. Check the maintenance records and see if the "big" repairs have been done. The A/C evaporator is a $5k job so if it hasn't been done you may be able to negotiate the price down a bit.
Maintenance-wise, the S320 is surprisingly easy to work on. There's lots of room under the hood, and since it's a '97, it will have OBD-II which makes diagnosis much easier.
I say go for the S320.
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"It's not about how fast you can go, but how well you can go fast."
Bob in Richmond
'97 S320 (LWB), Ruby Red Metallic, 73k miles
'97 S420V, Smoke Silver Metallic, 155k miles
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