Thanks for the welcoming words, guys.
I considered buying the diesel model, but they were on average $10k more expensive than the V8 examples, for a similar year & mileage.
I then decided the V8 would be a lot more fun than the 3.0 petrol, so started looking at these. Soon after, I decided if I was going to have a V8, why not have the 'daddy'?
Although the 4.8is is very rare in this country - as wpoll says - I couldn't believe it: there were four of them up for sale at the same time! This car was the cheapest of the bunch on offer, being a private seller and with a few known issues, as discussed earlier, but it drove well and had the colour combo I wanted, so that was it...the deal was done!

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Current:
2004 X5 4.8is - Le Mans blue/Cream beige
1994 E31 850CSi - Sterlingsilber

Previous:
1987 BMW E28 M5 - Delphin-metallic
1976 BMW E3 3.0Si - Arctic-metallic