Ah, nothing like a free car. Particularly when it is in nice, original condition.

The car is a 1967 122S, white with red interior. Odometer says 32,579 but I have no idea how many times it has gone around (at least once as the title notes that the odometer exceeds mechanical limits). 4 speed, no overdrive, B18B with dual SU carbs and an aftermarket electronic ignition. Stock exhaust header with one down pipe.

Mechanically seems to be in good condition. I haven't tested compression or leak down because I do not have the tools. However, I drove it 500 miles last weekend and it did not consume a drop of oil. I averaged 25 mpg for the trip as well, both good signs (to me) that the engine is healthy.

Driving impressions....Handles better than a 240 but has nowhere near the turning radius. Steering lacks the precision of the rack-and-pinion job in the 240 but gives more road feel.

Ride is better. The 240, with new OEM bushings and OEM shocks/struts, is firm but mushy, as if the car couldn't decide whether it wanted to become a BMW or a Cadillac when it grew up and got stuck somewhere in the middle. The 122, on the other hand, rides very much like a sports car. This is with new (installed by me) Koni shocks and OEM rear bushings.

I love the M40 4-speed gearbox. Overdrive would be nice on the highway, but the gear ratios provide very good acceleration around town, and the feel of the shifter is hard to beat. The M46 is a good box (mine has 300,000+ miles on it with only the occasional fluid change), but feels like a toy compared to the M40.

The engine. Not as quiet or refined as a B23/B230, but MUCH better low and mid range power. The 122 gets up and boogies, although it does run out of steam above 65 mph. This is the only area where a B23/B230 has it beat.

Road noise....I thought that the 240 was loud. NOT! My ears were ringing after 2 1/2 hours at 70 mph.

Comfort. 240 has better seats. 122 has better controls. I also like the band speedometer but it's not even close to accurate, unfortunately.

No A/C. Don't miss it here. Heater is about the same. The 240 might have an edge here, at least in terms of absolute temperature and how long it takes to heat the cabin.

More thoughts later...