Dealer Service -vs- Owner Service

I am interested in servicing my 1997 R350 myself however not clear on what is truly needed @ 40K miles. I know of the common things to service....

1. Oil and Filter
2. Possible Tire Rotation
3. Check Brake Pads
4. Check Fluids

If the coolant is low what brand/type is recommended to use for this model or does it really make a difference? I have serviced domestic cars/trucks but never a foreign vehicle. When the Service C or D notice comes up on the vehicle computer what does that really focus on? I checked a local dealership and asked about 40K service and was quoted $550. I would prefer to service the vehicle myself and shave cost unless the manufacturer highly recommends it.

If I could honestly service this vehicle myself what manual would you recommend to allow me to reference any specifics during the life of this vehicle?

Thanks in advance