I have owned a 1988 300CE for 6 years now (third owner rust free California car); it's an every other day driver with 198k miles now. I have always been somewhat disappointed with the acceleration available from the 3.0 without having to floor the gas pedal, and the fact that it was next to impossible to coax a transmission downshift at cruising speed without using the shifter. The car was dangerously slow sometimes, and this more than offset the excellent ride quality of this W124.
Recently, I began to feel a slight catch in the gas pedal after disengaging the cruise control, so I figured it wouldn't hurt to lubricate the throttle linkages. After removing the air filter housing I found the problem - the accelerator cable had disintegrated: the outer housing of the cable had detached from the adjusting nut, and that part was almost completely gone. Although the cable still functioned, there was close to 2 inches of slack at the pedal.
I purchased a genuine Mercedes cable from Peach Parts ($60); it arrived yesterday, and I had to get it in asap. I did it last night. The job required removing the lower driver side dash panel and the plastic cover above the foot controls to gain access to disconnect the cable from the pedal. That was the most difficult part of the job; after that it was fairly easy and the cable is readily accessible in the engine bay.
The difference this repair made is incredible. Slack in the gas pedal is now at zero, pedal pressure is light and smooth, and I get much more throttle response from far less pedal travel. Interstate acceleration to >90mph is effortless and very quick. The 4-3 downshift is right there with about half throttle. Acceleration in this 25 year old car is now very, very satisfying.
I wish I had done this 6 years ago!