Changing the timing belt at 100K is a myth on the M119....they should easily go 150-200K. As for the plastic guide rails and tensioner...that's a different (and much cheaper) story.
If you plan on driving thru the winter (not that you get much on the coast of CT) then you might not want the V8 W124. I drove mine one winter and am lucky to come out OK !! Tail end gets too happy...I'd imagine the 400E/E420 would also be tail happy in such weather.
Ken Marino up in Durham, CT has a very nice dark green/tan 95' E320 sport w/80K on it...its worth a look.