W124 is a solid car, one of the best chasis ever made. Classic, ageless design. It does require a little more attention than some other cars.

Following are the week area's and approx. prices at MB dealerships:

Engine Wiring Harness ($800)
Engine Head Gasket ($2200)
OVP Relay
Fuel Pump Relay
EGR Valve
AC Evaporator ($3000)

Major engine components may last over 300,000 miles with routine maint.

I get around 20 mpg and no unusual smell.

I would recommend keeping a backup OVP and fuel pump relay in the car. Also, you can make a led/sw tool to check the codes for the various modules like the ECM etc.

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Zafar
94 E320 58000 Miles