C32 is "only" a six, but with the kompressor, it makes big power and super low torque. The W203 C-Class chassis is a great chassis even though it returned to strut style front suspension. The newer suspension is actually a multi-link system and can be tuned for excellent handling and a nice ride.
In typical AMG fashion, the car has enormous brakes and is stuck with an automatic. But, the autobox has the AMG "speedshift" programming that allows the tranny to shift lightening fast and makes a real difference in performance. It's quick (0-60 in 5.0) but it's the roll-on performance that is the forte of that car.
It has some real goofs too. The tach is barely bigger than a timex and is stuck in the corner of the cluster. The speedo has a small section-needle and is tough to read at a glance despite it's huge size. The switchgear is "hollow" plastic and cheap compared to previous MB's. The glovebox is huge, but the door bangs into the passenger's legs when opened. Some things that should have been standard were not, like a CD player and HID lights. Luckily, most dealers ordered them loaded.
In Europe, AMG allowed customers to chose final drive ratios and opt out of the speed limiter. The NA C32 was geared a little less agressively, but with a steeper rear gear, the car can really use fifth gear. Accel times drop into the four's to sixty with the steeper gear, and surprisingly (since it uses fifth much better) the top speed rises to 190mph from 177mph when uncorked.
The C32 is the equal or better of the E39 M5 and will trounce a 540i with ease. They can be a superb Q-ship since the AMG bodywork is not too loud. There is a silver one in Edmonton where the owner has removed the C32, AMG and "kompressor" emblems. He/She has probably surprised more than a few unsuspecting challengers.
Like other AMG cars, most of the car is "normal" MB, so parts costs are not "high performance" but anything related to AMG will make you faint. As an example, I can do all four brakes on the C230 for the price of ONE of the rear brakes on the C36. But, the C230 does not have brakes that fill a 17" rim to the brim.
Problems are limited to the typical W203 C-Class problems and include Check Engine lights triggered by Air Mass Meters, glitches in COMAND equipped cars, faulty keys and tempermental keyless entry. Also, the engine is M112 based, so a close inspection of the harmonic balancer should be part of a PPI.