Yes you do have vanos. I have a 1994 e34 525i and 93 was the 1st year of vanos with the m50 engine. As far as advantage, who knows. Around town I get 17 mpg's. However, the engine that we have is bulletproof. As long as you service it regularly and don't overheat it, you will get great service out of it. The engine produces 192 hp stock. That model has a cast iron block, not that aluminum crap that they use today. Any other questions about the car, pm me or post on this thread. Check out my ride in the member's garage.