I just finished valve seals, valley pan, coolant pipe, and water pump on my '07 4.8. I currently have 105K on the truck, but the valve seals starting smoking probably around 75K, so I would factor in a valve seal job into your calcs. I did mine myself, so cost me $560 ($500 for the AGA tool kit, and $60 for the seals), but I've read that indy's are charging around $2500-$3K for valve seal jobs. Also, I've also done gaskets for timing covers, valve covers, alternator, so I think I have all major issues addressed...fingers crossed! If I had to do it over again, I would have bought something else, although the X5 is a wonderful ride when it's not broken.