When I bought my '87 420 SEL, I also felt a pulse in the brake pedal. Not knowing much about MB's and before I found this site, I went to a tire dealer and had them look at the rotors. They did measure the runout of the rotors and the right rear was the worse. So they turned the rear rotors for I think $ 15 per rotor.
A test drive showed it was much better, but still a bit of pulse left.
So I had him do the fronts, too.

Brakes were ok for over a year or about 5,000 miles.

Then I measured the rotor thickness and found the front to be slightly below the service level (25.8 mm vs 26 mm), the rears are still way above service level.
So I got new front rotors and brake pads for front and rear and put them on (Thank you, thomaspin, for your website).

My experience would suggest that it can work, but you should ask for the thickness of the rotors before and after the turning and know the service level and the minimum level for your car.

Overall, the front rotors lasted for 50,000 miles