I've had both 240's and a 740 and would go for the 242. But, that's just personal preference. I like 2 doors and I like to "play" with the car...sway bars, springs, etc. and the 240 series responds very well to mods. The transmission is a factor. the '83 probably has the M-46 (4 speed+OD) which has a rep for reliability and the '90 is probably an M-47 5 speed. The M-47 had a rep (possibly undeserved) for early failure but this may be prevented by good maintenance including overfilling the lubricant. Search the board for more details on that. If you regularly carry rear seat passengers, go for the 740.
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'93 850GLT
'83 242TI Flathood
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