Mk3 Golf was panned by an ill informed bunch of twits, shame most people repeat what Top gear or the sun say Verbatim.
I have had enough cars from all over to know a good car and the Mk3 is one of VW's best models.
Apart from being a bit rusty in later life you cant fault them.
The 8v is a rock solid engine with good balanced figures, and in the right hands is more than capable of holding its own amongst is peers.
You can argue all night about VR's, Valvers and the 8v, but if you have a tiny thingy none of them will be the extension you require.
I will go so far as to say that the Mk3 is the best Golf up to the Mk5, and ive had enough Mk1/2 to qualify that imo, Mk4's look good but I am reliably informed to save for a Mk5 as my next golf.