My brother has a 96 318ti with the M suspension option(17" wheels, stiffer dampening, sporty interior, and M3 like body kit. His car has not had one single problem since he has bought it new. Granted the yes, the prelude is sweet and i have one and love the thing to death. But the the bimmer ride quality, build quality, suspension tuning and balance is second to none. There is no stupid shock knock BS and the thing handles superbly and in the meantime soaks up bumps with little effort and no rattles. And still does so after 6 years. But here's the catch, DO NOT get a regular 318i. They have soft suspensions, sh!tty wheels, and seats that are as flat as cadillac seats. The only thing better about them is the interior luxuriousness when compared to my bro's 318ti sport package. And to accompany those already non-sporty traits is the weak a$$ motor. The motor, stock, is anemic and just plain old doesn't do the trick for a car that has a chassis as capable as that. Remember, if you want a 318, only purchase a 318ti that has the sport package otherwise you will regret it. After a while though, you will get sick of how slow they are stock and will want to supercharge it like my brother has and now i can't even pass him. It's dead even now and i have a decent amount of bolt-ons. And also, don't forget a euro spec E36 M3 motor(340hp) or any E36 inline 6 for that matter can be dropped into it as easily as a B16 going into a civic hatch. Once this current motor is done in my bro's car, he's going to buy a rebuilt M3 engine and drop it in. I tell you right now, i cannot wait till this motor blows up!
So to answer your question, the 318ti is more expensive to maintain, but if maintained properly, they are just as reliable as any other car. They don't eat oil for breakfast, lunch and dinner like the VTEC does either. They are way slower than a prelude stock vs. stock, but there are other things to consider. It's RWD, it's brakes are way better stock, it hanldes better stock(remember, SPORT PACKAGE), and rides nicer stock and chicks will most definitely dig it much more than a prelude(even though the prelude is definitely a looker). Ok, i know i'm leaving a sh!tload of things out but it's just stuff to consider, gotta go.
Tom