First tip from a forum oldie (not this forum, but many others, based on what I own at that time):
Search button is your friend.
Second tip: Consider expanding your search to overseas forums as well. The enthusiast market there is larger and have more collective knowledge although your parts source will be different (as well as prices).
I'm based in S'pore so I'll let my M'sian colleagues answer your question re: local parts. Here, Eng Soon offers very competitive parts prices, comparable or even better than US prices.
"Full M5" body kit? Not sure what you mean here. The e34 M5 was a bit of a Q-car. They had a small front lip spoiler, and early versions had the sills in grey. Later versions had the more aerodynamic M-technic wing mirrors. I think there was also a small trunk spoiler, but that's pretty much it. The e39 and e60 have more obvious "body"kits. (
http://www.bmwmregistry.com/model_faq.php?id=12)
You can look on eBay for Angel Eyes - I believe made by Depo in Taiwan. Review is mixed. Do a search on the US forums to see the comments. Overall, not very positive, but your mileage may vary. Buying from US (or direct from Taiwan) may be cheaper, even when factoring in Shipping but warranty issues may be hard to resolve.
Tire recomendations are subjective, and so's pricing. I'm told that generally, tires are cheaper in Singapore. Since you're on a budget, I recommend staying away from brand name tires like Michelin Pilots. I used to run Kumho MXs on my '95 911 as the car had a voracious appetite for rear tires (a new pair once a year or so). For M'sian weather, consider wet handling as well. I used to run Continental Contisports on an Alfa 156 but the current Goodyear F1s (235/45/ZR18) on my e34 are just brilliant in both dry AND wet. I don't think I would be switching to any other brand, at least for the e34.
I've been down this road many times, inc. while being a student. Best mod is always performance driving lessons on the track with an instructor. It may not be cool, doesn't give you street cred, and isn't as overt. But it is by far the best mod you can do.
Another key thing to remember about e34 ownership was that the car was once a luxury mid-size sedan costing mucho dinero. So, even if the cost of purchasing one now is low, parts and maintenance would still reflect that of a high-end luxury car, not a Proton. Check out the e34 maintenance thread to understand the costs that await you.
