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I've got an automatic NA 86.5 and I agree with you, I was surprised at how little kick it had off the line. But then you have to remember that the engine & suspension are nearly 16 years old. A stiffer suspension and a tune-up (maybe exhaust too) would give it a little bit more pep. Also, remember that you're pushing nearly 3700 lbs off the line so it'll take a lot of HP to feel a good kick. Once you get going tho, you'll "decimate all" especially once you hit 2nd or 3rd.
MKIII's were made for cruising, not for dragging. Its got more luxury components than any other performance import in its class, and still manages to haul ass. 200hp at the crank is still quite respectable for any NA motor, especially since you've only got 6 cylinders and 3 litres of displacement.
I'd say go for it as long as the car is in good shape. You can throw in a 5 speed transmission for pretty cheap later on if you don't like the auto.
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