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Good engine if taken care of, looks great, nice interior, but it's an anchor with a slow steering rack and sloshy chassis.
In other words it's great in a parking lot or on the freeway, but nowhere in-between.
In fact, I was very close to getting a very nice 9/10 one (USA, sedan) thinking exactly what you said (V8) but decided against it for a few reasons not the least of which was that a mechanic friend said even in the best of scenarios it's still a money pit.
bright
Anyone know the 4.2 S4 Avant? Look like a fun car and quite good value (thinking about post sale of E63/arrival of Camper/funds recovering a bit, so nothing imminent.