I have US version '92 300E 2.6 and the boot cover/ plastic belly pan/ splash guard is indeed in place.

Based upon closer observation of the belly pan while it was off recently for cleaning:

>it does exhibit noticable scars from road warrior debris

>it does appear to have design channeling that may well aide in cooling (air flow) and under car aerodynamics

>it does appear to assist keeping the engine bay and lower engine compartment free of dirty/ grimy nasties you may encounter in day to day use

-fad

PS- my '94 E500 also has this belly pan