When comparing Internet Explorer vs w3m, the Slant community recommends w3m for most people. In the question“What are the best browsers not based on Chromium?” w3m is ranked 6th while Internet Explorer is ranked 15th. The most important reason people chose w3m is:
Although w3m is primarily a text-based web browser which runs inside the terminal, it supports and renders several elements which other terminal-based browsers cannot like images, tables, tabs or frames.
Specs
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Pros
Pro Downloads well
Downloads safely, quickly, and nicely.
Pro System built-in browser
Browser has many system related features. With Internet Explorer you can run certain types of files, without saving them in a non-temporary directory, or you can change proxy settings via a built in Windows dialog window.
Pro Works great with ruTorrent
Pro Can fluidly stream 4k video
IE 11 can fluidly stream 4k videos on Youtube without issue.
Pro Isn't a big target for hackers
Nearly all browsers use the same browser engine as Chrome, Safari, or Firefox; meaning they have the same security-holes as one of the big three. IE doesn't, it has has its own engine.
In other words, even if you find yourself on a website that tries to hack your computer: It's very likely that the the website will only be designed to hack the big three, and wouldn't be able to do anything to IE.
Pro Support for several elements not found in terminal browsers
Although w3m is primarily a text-based web browser which runs inside the terminal, it supports and renders several elements which other terminal-based browsers cannot like images, tables, tabs or frames.
Pro Available as emacs plugin
W3m can also be downloaded as an emacs plugins to be used as a fast web browser that runs inside emacs.
Cons
Con Out of date
Con Final version of the browser
Microsoft confirmed that Internet Explorer 11 (released on 2013, still bundled in Windows 10) will be the last version of Internet Explorer as Microsoft is shifting it's development focus to Microsoft Edge.
Con Windows only
Internet Explorer is currently available on Windows only. Internet Explorer was previously available on OS X and UNIX, but both of them have already been discontinued.
Con No browser extensions
Internet Explorer's functionality cannot be extended via extensions/plugins.
Con Not standard compliant
Con Problem rendering online Google Web Apps correctly
I.E. 11 has many issues with rendering Google Web Apps correctly such as Docs or Sheets. The landing pages for each has incorrect button placements and doubled icons, making the sites barely navigable.
Con It's slow and crashes a lot
Con Created By Microsoft
Con No reader view
Con Steep learning curve
Being a terminal web browser w3m has a certain learning curve because you need to learn the keystrokes and different commands.