Should I do it myself?

I need straight, realistic advice. The 2.6 engine in my 1993 190E Sportline is shot--at least two bearings burned.
I'm going to keep the car--even at 110,000 miles, it's near perfect in
every other respect, and there's nothing else I like as much. Also, it has a new auto transmission with less than 20,000 miles on it.
There are four options for replacing the engine:
1. Let the dealer do it with a new long block from Metric Motors--4 year, 50,000 mile warranty. Cost--at least $8,000.00. (Dealer will do a short block, but says the cost will most likely be about the same, and only 1 year warranty.)
2. Buy the long block and do it myself. Long block, with shipping, about $5200.00. Plus whatever other parts I need--engine mounts, gaskets, etc. 4 year, 50,000 mile warranty on long block.
3. Buy a short block and do it myself. Assuming head is OK, about $3100.00 plus other parts and machine work on head, etc. (Warranty on short block is 1 year, unlimited mileage.)
4. Buy used engine and do it myself. Cost--much cheaper, but many unknowns.
I have very good mechanical aptitude, and am systematic and painstaking in my work--but I haven't done any major automotive repairs since I rebuilt an air-cooled VW 25 years ago. (Did a good job, and VW engine was still running great five years later when sold. But obviously a huge difference between that and a Mercedes engine.)
I've got all the basic metric hand tools, but that's about it. I'll have to buy/rent everything else. I'll fortunately have the time to do the work essentially uninterrupted--I figure at least two weeks. Sound about right?
Should I even consider doing any the work myself? If so, which approach would make the most sense?
Thanks.
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You like this car well enough to get it back onto the road, one way or another.
You've thought about the project, understand the implications and cost of each alternative and have time to undertake the project.
Do you have a decent place to do this job?
Are you comfortable with the idea of removing and installing a 500 lb engine?
I, personally, wouldn't spend my time on a used engine - the outcome is uncertain but the time is invested. Less $$ but more risk of wasting your time if that unknown used motor is a dud.
The short block is attractive in that the high tolerance, interior engine work is professionally done so your task is to remove and replace the engine's exterior components rather than its guts. This strikes me as the best combination of professional skills vs. cost for same plus your DIY skills to organize the component transfer and engine installation. I would, however, explore having the cylinder head redone so it's on par with the short block, or at least replace the valve guide seals while it's on the bench and the chain if that's not part of the short block package.
I'd buy a M-B shop manual for this engine before doing anything else. It will help avoid errors and so save you a lot of time.
Will another six of the same vintage fit this chassis? Like a 2.8L or 3.0L? Any interest in that? If so, nows the time to switch.
This could be an interesting and rewarding project.
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Buy a used 190 2.6 whole car... it should be dirt cheap that you got a whole car for parts. You can test drive it... check the whole deal before you buy it. Then transplant the engine. Sell remaining cars and tranny to those who needs it for extra cash.
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