Original retail price on this MB was $128,000 back in '92!! That's alot of clams in '92 dollars.
If you can get it for the right price or free even, I'd say go for it. Drive it "soft" and you'll experience much less problems. I'd imagine most problems arise due to hard driving. People don't buy a V 12 to go for Sunday drives.
http://www.mbusa.com/brand/container.jsp?/overview/overview_engine.jsp&yearModelCode=88_SEL600S&class=88_S&rnav=0124568&subNav=overview&menu=2_3&spec=0
Good luck in whatever you decide!
~Paul
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'91 300E, 208k miles