I have a mk3 16v and love it. I do however reckon that all mk3's need new suspension as they like to roll a bit much, The mk3 is a good mix of performance and comfort, i can comfortably cruise up the motorway aswell as absolutely ring its neck and love every second. My mates got a mk2 and whilst yes you definetly have more connection with the car and more feel of whats going on, for everyday use or any long distance journey its a bit more of a pain in the arse! The mk2's can definetly do the long journeys fine its just a bit more tiring! After having said that, if i could afford a well sorted mk2 i would, cos im more into ringing its neck than cruising.
Thing is, i got my mk3 valver in great knick, 97K on the clock with full service history, every single old mot, new tyres etc etc, for just £850.
Try getting a mk2 in just a reasonable state for that!? A 150bhp mk3 def isnt slow either!
If you can afford a mk2 and can put up with it being a bit more hardcore, then do it, itll be great.
Bit more skint, need some money for repairs, maintenance and need something bit more everyday too, get a mk3.
Everyone has their own opinion but in mine the mk4 is a bit boring, boring to look at, and a total lack of driver engagement. Some are fast on paper (though the standard gti definetly isnt!) etc but its about how it makes you feel isnt it?! People call a mk3 a boat/ tank, what about the mk4!!!!!! Its even heavier!
I dont think the mk3 is amazing just cos i own one, i would have a mk2 if i could, but the mk3 makes sense for a good best of both worlds!