Let me know whether you've had a chance to explore buying that Peake Research BMW code reader and reset tool (http://www.peakeresearch.com/code_tool.htm
). It sounds like a "must have" to me, if I want to do my own work on the car (and I do). I gained some good experience (and weird tools such as "cheesehead" sockets) with German cars thru my ownership of my erstwhile Porsche 914.
Interesting re similar background, although I've had 2 years "off" since selling the Legend.
The car I am buying may have 103K, but looks to be totally virginal (original radiator, valve cover gaskets, etc), so I'm sure that over the next year it's likely I'll be replacing items related to those, and will be keeping my eye on the camshaft position sensor for trouble. My big thing is that it's been garage-kept, and as I found with my Acura, protecting a car from termperature extremes via garaging goes a long way toward preserving vital parts of your car. There isn't much that is harder on a car than pressing it into service in below-freezing temperatures...