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Which is better for my e21 323i, I will be using the car for fast road and mild track use, thanks

On the 4 speeds and overdrive 5 speed the first 4 gears are pretty much similar so the 5 speed will mainly add that overdrive that can be useful for longer trips. If you use a relatively short diff you might need that 5th as well. Sports gearboxes (5 speed dogleg with 1:1 5th gear) give you closer ratios but these are becoming real rare.

Ok thanks, to be honest I think I prefer the 4 speed as when I place it in fifth gear the revs go much less and the drive is no comfortable , so I'm thinking of switching to a 4 speed box

Have you already got a 5 speed installed? If so, changing to a 4 speed would be pointless.

4th gear in both gearboxes is 1:1, so they are the same. The other gears are almost identical as well. If you don't like the feel of 5th gear, just don't use it.

Alternatively, get yourself a lower ratio differential. You've probably got a 3.45. You could change to a 3.91 quite easily and it would increase the revs when you're in 5th gear.

Cheers

Oh okay I'll see if I can get hold of that cheers

Fully agree!

3.45 diif ratio is useless unless you have upgraded engine / *dogleg

I'll reinstall 3.45 diff only if I go to Sharknose meeting...

EDIT *

3.45 diif ratio is useless unless you have upgraded engine

Not if you have a dogleg