Thanks for the replies. I'm sure importing would be a pain, and expensive, but if I do import, I would avoid the under powered US engines, and get the Euro spec lights and bumpers - so there would be a saving in the conversion (for the lights and bumpers).
I would be looking for a 300/420/500 SE/SEL.
It's a good point that there are plenty for sale here, so maybe that's something I should explore.
But then, if I'm buying local, maybe I should just get a '96ish W140. The only reason I have stayed away from the W140 is my assumption that running and service costs would be higher than that of a good W126. I found the 1989 300SE very reasonable when it came to running costs - even with 140k miles.
Thanks
Oliver

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Oliver