MrRuffStuff,
I have the same car, 95 E320, and it seems we are all having the same issues right now (80k-7yrs.)

Wire Harness/ EGR tube blockage/ Headgasket Leak/ Rear Diff Leak/Bad Coil Wires/ and window weather striping that lift up at the ends.

Yesterday I cleaned out the EGR tube (search archieves) because the ODBI code read 5 blinks. Hopefully the CE light stays off.

Today I made an appointment at my dealer to have the wireharness replaced next week. I'll let you know how much I end up paying.

BTW, here are the codes for the 95 E320, courtesy of engatwork:
(search archieve on how to check code)
1 No malfunction in system monitored
2 Heated O2 sensor inoperative
3 Lambda control inoperative
4 Air injection inoperative
5 Exhaust gas recirculation inoperative
6 Idle speed control inoperative
7 Ignition system defective
8 Engine coolant temp. sensor, open/short circuit
9 Intake air temp. sensor, open/short circuit
10 Voltage at hot wire mass air flow sensor too high/low
11 TN-signal (rpm) at engine control module (N3/4) defective
12 Heated O2 sensor heater, open/short circuit
15 Wide open throttle information defective
21 Bad Purge Switch-Over Valve

If your CE light is still on, check the codes and post the results. I can almost bet that A.Dalton or Steve will know exactly what you need to do.