I just got one in April 2002 52 plate 3dr in diamond black pearl with black leather, Ive had golfs all my driving life and this is the best yet refined all mod cons not too bling and pretty quick.
They are not the fastest out of the starting gates but its a bench mark, class and power all in a package that your average jo schmo would not notice.
All the other hot hatches may have a bit more power or a turbo but with the exception of the S3 or Cupra R they are all trying to imitate the Golf so my thoughts are why by an imitation by what they are all trying to beat and what better version to buy than the 4Mo unless its an R32.
Power wise it depends on how you wanna drive I cruise most of the time but when im in the mood a toruing car style drive is always a blast and compared to my 1997 VR6 this has more hussle but (does feel a little less sporty perhaps) but effective use of gear changes and there is not much that will clip my wings and always use the racing line whenever possible.
If you want fun just find somewhere that has loads of short blast roundabouts and keep the revs up (jsut be prepared to wipe a few mill of your tyres.
I like the understated look to them aswell cos you do not look like your making a massive statement but have it wear it counts but you will always get an admiring glance from some one in the know but with the reliability factor that unless you are married hot chicks will dig you cos you look responsible enough for them to allow you to pic up their grandma!
I have converted most of my mates to Golfs so maybe im biased but it always comes up trumps in most car reports and has been going for along time (bit like a Porsche 911) so why mess with a classic cos they must be doing something right.
Let me know if I have swayed you back!
Cheers
Paul