I honestly think that particular car (70 280SE) is one of the BEST all-around that MB ever built. There is plenty of power (personally I think the 4.5 v-8 version is overkill), they're comfortable as heck, and they still look really good (especially with the new paint that you're reporting).

These cars are still "simple" enough (remember, this is a relative term!) for the DIYer to do most jobs. Plus, I've discovered that MB parts are interchangable for many, many years. I would not hestitate to buy one but of course keep the purchase price reasonable. Watch the auctions on eBay or (better yet) go to traderonline.com and look for a 280 SE or SEL in a similar vintage (up to 1973). That will give you the asking prices. You can search by locality or regionally, too (you'll find that So Calif cars seem to go for a bit more because they're not rusty although I've found the interiors to get real dried out if the car is not garaged). Stay away from rust-belt (mid west) cars unless you can do a THOROUGH rust inspection. Your best bet is always to look for a local car, though, because you'll want to inspect it and not have to pay for shipping.

Just my 2 cents.

I have a 73 280C (a completely different chassis and engine from what you're considering). I would trade it, half of my family and probably a couple of thousand dollars in a heartbeat for a 70-73 280SE or SEL in decent shape.

Catrinus
Portland, OR