This is a GREAT post! However I will say the ECU/module can have errors and need to be switched as it was superseded a twice in the E53 vehicles equipped with EHCII production - If your problems are not fixed by compressor rebuild, there are no leaks, the bags are all fresh and holding air, and the level sensors are good and the small ball-socket linkages are not seized, and still getting random errors or gremlins, I would look into whether the module is original or not - Mine had to be replaced before I got the vehicle.
I will contact Andy about the "full rebuild" kit as the last time I went to lower the vehicle with the switch you're correct it almost took a minute to do so.
37146773999
Air supply control unit
From:10/14/2005To:-Weight:198.000 kgPrice:$732.66
Supersedes:
37146758452 (10/01/2002 — 10/18/2005), Exchangeable retrospectively
37146760105 (10/19/2001 — 02/11/2003), Exchangeable retrospectively