In terms of "the way it drives" a 210 leaves a 126 for dead. The 210 is a responsive, comfortable almost-a-sport-sedan. A 126 is big and ponderous in comparison.
Yeah, the rack and pinion steering has a different feel than the old recirculating ball boxes, but nonetheless it is very, very good. Steering on a 210 has good feel to tell you how hard the tires are working and is very accurate on center with almost no play.
Fuel economy on a 210 wagon should be about the same as a 126 diesel, maybe a little better on the highway.
I'm thinking the reliability of a 2000+ 210 isn't going to have much trouble matching the reliabilty of an '87 SDL.
One thing to be aware of with wagons is they have a bit more road noise than sedans. It's not bothersome, but is noticeable. Be sure to drive any candidate cars at highway speeds.
It's hard to argue with a 210 wagon; they are a great blend of competent driving, comfort, safety, utility, and even decent economy.
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