Welcome - and your post will definitely open a can of worms...
Unlike
@E55BOF, I assume you're asking about the M157 5.5L Biturbo engine in the W212? If so, then as a general rule they are no more and no less reliable than any other good engine. You will read of the odd horror story (often, but not always, on remapped engines), but most run to high mileages without issue. If you do look at one, they are all a bit clattery on idle so that's nothing to be concerned about, but if there's any hint of a misfire at any speed run away. Fast.
The bigger question you need to answer is that the W205 and W212 are significantly different size cars. Do you need the extra room the W212 would give? Or would you prefer the slightly more dynamic performance that the smaller size and lower weight of the W205 can deliver?
My personal view (and I'm biased as I've owned two of them) is that the W212 is a fantastic package that can morph from luxury cruiser to manic performance car just by prodding the pedal on the right. I used them as daily drivers, covering 12-13k miles per year in each of them and they never failed to be anything other than a real joy to drive. The E63 sold in much smaller numbers than the C-Class and good ones can still be found at something of a bargain price because they (wrongly, imo) aren't seen as being as desirable as a C63. I would have another in a heartbeat.