Do you by chance have any pictures?
The wood "cracks" are actually normally just cracks in the finish...this isn't a certainty, but it's a fair bet that the wood itself is okay. The finish CAN be redone...
take a look here (came from
this site). If the interior's in good shape other than that and the crack in the dash, and if the body's happy, that may actually be a fair price, although it seems a bit high based on the mileage.
Any chance of doing a compression check? It'd be nice to see how healthy the engine is...also be good to find out when the last time the valves were adjusted, if the timing chain's been replaced (if so, how long ago, and if not, how much stretch was there the last time the valves were adjusted?), etc... Regarding a CDR, there isn't really a valve/diapharam per se like we see on our IDI's, at least not in my experience. On my car, the hose comes off the valve cover and into the air cleaner...where the crankcase gases go into what's supposed to be an oil separator (but doesn't really work). Theoretically, the oil is supposed to go down a metal tube back into the crankcase (the tube fits into a nipple in the bottom of the air cleaner assembly, goes around the turbo, and into the engine down by the oil pan), and the gases are supposed to go back into the intake. Earlier turbo 617's handled things differently, with a hose going straight from the valve cover to the bottom of the engine block, with a T-connection going to the air cleaner.
I could be mistaken (my '85 doesn't have this box), but I BELIEVE that the black box on top of the valve cover is part of the transmission modulation setup. The cruise control actuator (that physically moves the throttle linkage) is actually the forward-most part of the throttle linkage, with the box just behind the power steering pump (take a look
here for a picture of what it looks like minus the arm that the linkage attaches to). With vacuum leaks around the tranny modulator, you'll wind up with hard shifts and may think that the tranny's on its way out...there have been numerous people who've condemned a tranny due solely to vacuum issues.
BTW, there IS a boost hose that goes from the intake manifold to a diapharam (called the ALDA for reasons I don't know) near the back of the injector pump. Boost pressure pushes on the diapharam, that in turn increases fuel output accordingly. The line goes through an electric valve that is connected to a sensor in the intake manifold; if the sensor sees boost pressure being too high (above about 15 psi), it'll dump the boost signal going to the ALDA into the atmosphere, in an effort to prevent an overboost condition. I don't know of any boost lines coming from the wastegate itself, though...but, that doesn't necessarily mean anything.
Just some thoughts...good luck!
Also, make sure you do a thorough job of inspecting the suspension...that's the single biggest mistake I made with my 300D, and I really regret it now. If I put the $$ into repairing the suspension on my car, I would be in more than she's worth in my eyes...but, other than that, my 300D has actually been very easy on my wallet. She's, hands-down, the most economical vehicle I've ever owned...parts can be expensive if you need them in a hurry, but there are places online where you can get them at reasonable costs (such as
www.mercedesshop.com; click on "Fastlane", and
www.performanceproducts.com) and even local suppliers if you're careful (for instance, I replaced my axleshaft/CV joint assemblies for $60 per side for parts, with a lifetime warranty), and if you can do your own work, you're set.