Having done this job on an E38 740i, which has the same engine, I can offer you some advice: The job is totally doable if you have the tools and patience. BE EXTREMELY CAREFUL WHEN SETTING THE TIMING UPON REASSEMBLY. If you haven't already, go to this site and read the tutorial for performing the VANOS repair.
Beisan Systems - Procedures - M62TU Vanos Procedure
You may not need to actually perform the VANOS repair, but the instructions for setting the timing are very detailed and accurate. Much better than I could find anywhere else. My only problem is that the layout is a little hard to follow. So I copied/pasted it all into a PDF that's easier to follow. Hit me up on PM and I can email a copy to you.
If you're comfortable taking apart a very complex engine and can follow the instructions, there no reason you can't do this job.