That E30 is in really good condition. I'd hate to turn it into a DD. Oh, but you live in Cali so you don't have snow, salt and other shit on the roads.
Honestly, either car is a great choice. The E30 will be a little smaller and better on gas. The E34 will be a little more roomier and have more power. I think it really depends on which car you like better.
Not putting miles on your Ferrari is like not f*cking your girlfriend so she'll be more desirable to her next boyfriend.