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The extra 40+ ponies of the 2.8L make a pretty big difference, but it depends on your priorities. The M111 is one of the most reliable gasoline engines MB has made with a very low incidence of leaks (head gasket failure is very rare) and both the bottom and top ends are very strong. It has a large double timing chain that lasts a long time if the oil is changed regularly. I am a DIY and find the roomy engine bay a real help with all sorts of tasks.
For me, I wanted an economical to operate car (gas here is now $1.15 a litre, or $4.45 per US gallon) and one that would be inexpensive to maintain in the long run. I bought mine new in the fall of 1997 and it is easily the least expensive car to maintain we've ever owned.
As to power, I have never lacked for highway passing power. At slow speeds around town, it's no jackrabbit, but that's not the reason I bought it.
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