just to share with you, i own the same model, E39, 2.2 M54 double-vanos with 10 airbags. My registration card shows 2003, however, after checking on the markers and some parts, it shows 2002!. Some AB huh.
Anyway, I'm the 2nd owner of the car, all major parts (exclude wear & tear parts like brakes) are original, even the shocks. The previous owner did have a small encounter on the left front, therefore he changed the power steering rack to a recon and now it's leaking. the front bottom left cover was broken, so, had it changed too.
Some of the items that I had to change upto date
1) ABS controller unit (died on me and had ABS + ASC lights on. tried changing speed sensor but didn't solve the prob, therefore, confirmed unit issue) @128,000km
2) all 4 absorbers + mountings + rear wishbone
3) ATF (@118,000km) - when I took my car (the guy never changed before)
4) Brake fluid + new ori brake pads and discs for the front (rear still ok)
5) Radiator & tank - detected early signs - small leak marks so changed it (@ 119,000km)
6) Fan clutch - (@130,000km) fan didn't kick into high speed..jam i guess (now, very shiok fan sound)
7) air con belt (@130,000km)
8) double vanos unit (@130,000km) - this is rare issue...the previous owner used non-good quality oil and followed the 25k service interval, most probably caused the vanos to jam up cause the exhaust vanos wasn't working and didn't have any oil in it when dismantle - car was jerking at 4,500rpm region..no power at all.
9) valve cover gasket
10) aircon filter - changed to charcoal filter, much nicer now, fresh and no foul smell
11) air-filter
12) axle oil (@130,000km)
13) engine oil sensor (@ 118,000km, dealer changed for me as it was leaking)
14) engine oil dip-stick o-ring
15) radiator bleeder plug
16) spark plugs
17) battery
18) additional sound-dampening and heat shielding for the boot and passenger cabin
19) sprint-booster - at least now no lag and better torque feel.
20) windscreen cause leaking
21) door panels reseal cause glue not good, so water leak into cabin. now, used silicone to reseal the cover
All the above done since November 07 (when I took my car) until now.
Next in line
1) headlights
2) power-steering rack
3) rear left power window - sudah kong on me..
4) 17" rims
5) aircon compressor cause got noise
6) respray
7) ICE
8) tinting since mine currently too dark...hehehe..later lor
that's all for now...
