Another opinion from someone who HAS driven on both NEW air and NEW coils.
When you ask the question "what handles better?", I respond to you with "what do YOU mean by handling?"
if "handling' to you means, smooth as possible, soft and cushy like a sealy posture-pedic, perfect road manners no matter how many passengers/gear is in thr trunk, OR-
if "handling" to you means, less body roll, smoother transitions over bumps, stability in rough corners, and steering response during agressive driving,
Once I know that handling to YOU means, I can make the best recommendation.
I am one of those people who didnt "need' air ride. I dont need self-leveiling load handling air springs. I dont need a car that i can toy with the ride height for the fun of it. I certainly dont need that slight "numbness" that comes with air suspension-equipped performance coupes. I want a powerful, V8 powered, RWD normally aspirated American car that can carve corners like a M5, and be as comfortable as a....Lincoln.
My buddy's 93 has brand new air springs front and rear. he ordered the parts from Ford(he owns a shop, so wholesale pricing), and he stayed with air because he liked the "luxury". I drove the snot out of his car...sure it corners well. it's soft and cushy, it rides smooth over bumps...but when I really pushed it, the car didnt do it for me. not like my 94 does.
So, once you decide what "handling" means to you, I'll tell you what "handles better'".
You want a Mark VIII to give you back-road thrills, go coils, lowered, and add a nice healthy Addco rear swaybar.
if you want precise luxury, with the ability to "keep up" with the average performance coupe on the twisties, and retain that luxurious, supple air ride feeling...you know what to do.
I've ridden on both. I've installed both. None is tougher than the other...none is better than the other...but one will give YOU more, depending on what you need.