As for slower I have to dispute that, engine is identical, only the rear shocks are different in mounts, the wagon is basically identical but for an extra 50 kgs in total.
Nothing wrong with a wagon far from it, tried sleeping in a sedan lately when your over 6', it's not real flash on the old bones, the wagon makes traveling a heap simpler and cheaper with a simple air bed in the back the tinted windows keep out prying eyes, never mind the extra gear you can shove in the back.
When buying mine I had the option of the silver early 96 sedan or the white late 95 wagon, same VS model essentially, and drove both of them extensively around town and at speed out bush, the wagon is 75% easier to see out of, especially when reversing, the sedan with such a high boot and parcel tray makes reversing and seeing what's close behind to you very difficult.
Now it may have been just bad setup I'll never know but the sedan was twitchy, the brakes were grabby, steering was overly direct and awkward to steer smoothly, the wagon was opposite in most every way.
My main +ve for the wagon was the increased rear / side visibility especially with a crook back, parking the wagon is much much simpler even if a tiny bit longer, that may make the steering smoother if the wheel base if indeed different, I have not bothered to check.
The 50 kgs are not worth worrying about, my mobile toolbox weighs heaps more than that anyway.
Drive both and see.