But, testing the exact same model boasting the "second generation" 1.6ltr block has opened my eyes to just how quickly engine technology has moved on.
For similar money, less fuel and a lighter tax burden, the 1.6 easily matches its bigger forefather in terms of pace and pulling power.
And that's what I call more bangs for your buck.
But, first, let's take a look at how Peugeot has managed to make its diesel more desirable.
A very nice man at the French automotive firm tells me it's all to do with the new-fangled electronic gizmo, which is capable of injecting more fuel and air into the cylinders, resulting in a bigger, but more efficient, explosion in a smaller space.
On top of that, engineers have added an "overboost" to the turbo charger, which gives an additional 10 per cent of power.
The new engine is also lighter aluminium rather than steel.
Oh, and if you really want to kick a first-generation owner when he's hurt, the 1.6ltr is now Euro IV compliant rather than Euro III, which means further savings to the company car owner.
And so, hey presto, the old 2ltr and new 1.6ltr are both badged as 110bhp cars. (The new 2ltr HDI is now capable of producing 136bhp and is offered as the sporty option of engine).
Although the technology isn't unique to Peugeot, they say that their utilisation of it has helped to further alter the way people see diesel drives. Another important factor is the way the engine has provided a mid-life makeover for the 307, which has now been with us for more than four years.
It was named International Car Of The Year in 2001 and has aged well in terms of styling and specification, with a few recent additions to the kit list.
As an owner myself, I'd only warn anyone tempted into an older generation 307 to ask some serious questions about electronic issues: mine has been beset with faults, ranging from intermittent horn function to a CD player which works when it feels like it.
But, assuming that Peugeot has now pulled the plug on such electrical woes, what is the latest generation 307 like on the road? Well, it has good - if not overly exciting - road manners and can easily accommodate a family of five; which in our case means two child seats, a trolley and the weekly shop.
Without the rugrats, it's just as capable as a five-person carrier and is neatly trimmed in cloth and stylish cabin materials.
Like engines, models move on and there are now more alternatives than there were when the 307 first went on sale.
My advice is to make sure you're getting the latest technology available for your money if you're buying second- hand and to check all available options if you're buying new.
It might stop you being brought down a peg or two, too!
