I think the cosmetics went downhill. The 81-85 126 looks styled. The 86-91 126 looks modernized... not modern but modernized. But that's just me.
Differences...
- stereo was improved a little but you have that covered
- factory alarm - both of mine have bad door handle switches. Not worth fixing
- memory seats with power headrests
- telescoping steering wheel
- manual AC recirc button, but on a timer
- central locking from passenger side and trunk (from 85?)
- IMO more comfortable seats in 88-90
- tilt mode in sunroof
- crappy aero headlights but with wipers
- outside temp display
- ABS (from 84?) and airbags (from 85?)
- other things?
You're not missing much.
Sixto
95 S420
91 300SE
87 300SDL
83 300SD