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S has the same gas mileage. It is identical to the CE and LE in every way under the hood.
Substantially more sound insulation was added for 2005. Also added was the electronic throttle. Cars with VIN's starting with 1 and 2 have Delphi (GM) gas pedals which are worse than ones that start with a J. Those were made in Japan and have Denso pedals. Both have a slight delay to them, but the Delphi is worse. You get used to it with an auto quickly, but many say it's constantly annoying if you have the 5 speed.
05-07 are known for ECM failures (again with 1 and 2 VIN numbers...Delphi part), but those are being replaced under a recall, so just make sure that gets replaced if it hasn't been already.
Listen for strange vibrations while test driving...sometimes described like marbles under the hood. That's a sign the belt tensioner is bad. If you hear anything, make sure it's replaced before you buy the car.
I definitely recommend trying to find an 05-07 with the ABS/Tire Pressure Monitor/Side Airbag package. Nearly all others don't even have ABS, but the side airbags are the difference between death and minor injuries in a side impact. The Corolla was best-in-class when equipped with the side airbags.
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Toyotas in the family/next of kin:
1982 Corolla Wagon, 1989 Corolla DX, 1991 Previa LE, 1993 Previa LE,
1993 Pickup, 1994 Corolla DX, 1995 Avalon XL, 1996 Camry XLE, 1998 Avalon XL,
1998 Sienna CE, 1999 Camry XL, 2000 Camry XLE, 2002 Tundra, 2003 Tundra,
2003 ES 300, 2004 Camry XLE, 2005 Tacoma
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