I would like to add my impressions. I have a 5-speed 230SL with a 4.08:1 rear axle. I installed a European 230SL axle with a 3.75:1 ratio. With my 5-speed, This feels like it is about a perfect ratio. In fifth gear (0.8:1), the equivalent ration would be about a 3.00:1. I have since put on my CLK 16 inch rims with 205/65/16 tires that I used on my 190SL last year. The larger tires reduced the ratio by an additional 4.7% so the equivalent fifth gear (0.8:1) ratio would be 2.86:1. This feels like too tall a ratio as I spend a lot of time in third gear around town.
With a four speed transmission, I would think that replacing the stock 3.92:1 with a 3.69:1 axle ration would be a good compromise. While the 3.27 would be excellent on the highway, it might be a little tall for city driving.
I will add that I have not driven a 113 four speed or a 113 automatic or any car with a 3.69:1 rear axle so take my comments as supposition.