BENSTER, Thanks for the suggestion and links. - I was away from home & car for a week, and now is the time to continue this exploration.
The first thing I checked (before installing new Cap & Rotor) was the Aluminum Rotor driver for any slop - there just is no play there . It is firmly in place . I thought I would wait a few weeks and then dismantle the Cap & Rotor again to look at how evenly it is wearing.
BUT this did not cure all things and should remind me yet again NOT to write about a fix before some real time goes by...

The good news - After replacing the fuel pump & filter plus the distributer cap & rotor, I also swapped the spark plugs(twice) and replaced the Injector seals.
All this seems to have pretty much taken care of both the cold & hot restart. The Idle is much better .

The bad news - When engine warms up there is still a slight miss at Idle. At times I can hear it hunting - Also the spark plugs foul up bad very very quickly. So I think I might have a very Rich mixture or not enough Air.
To add to the problem, the #1 plug is also wet. I did swap that #1 injector a couple times - The plug is still wet. From readings here on the forum this might indicate bad valve stem seals. However once accelerating above 1500 RPM the miss cannot be felt and the car rides very well. There is neither noticeable loss of oil nor fumes or smoke out of the tail pipe. Last thing I notice is that the Idle actually drops quite low when placed in gear. Is this correct or even related ?

1987 300SE Euro 126/103