1. Is it fun to drive?
Yes. Fast enough for most situations.
2. Does it have good build quality?
Very good based on my experience.
3. Is it reliable?
Very good based on my experience.
4. Is it worth the price tag (given it costs almost 20 times more than my Mk3!)?
Before I took delivery in April, I thought I was buying an overpriced vehicle, but having spent 8 entertaining months, I now think its very good value. I paid £15000 for a brand new MK3 in 1996-now that was expensive for a slow, tail happy vehicle!!!!
5. Would you buy one over a used E46 M3 coupe at the same price?
No, the MK5 Golf is brilliant car, you will not be disappointed, and the money is sensible too.