Hey Robb. Yes, still kicking - just had to take a step back from the Bimmers. This X5 nearly broke me - sold it at a substantial loss just to stop the bleeding!

The timing chain job is obviously DIY-able, but not for the faint of heart. I'd peg it at a solid 9.5 on your scale. You'll need several special tools and a lot of patience. The trickiest part is setting the timing. I've done the job twice (E38 740i and the X5) and both times I didn't get the timing exactly right on the first try. I got it on the second try with the 740 and three times was the charm on the X5. It will run and drive, but the CEL will be on and it'll idle like crap. And you have to take it all back apart to adjust the timing - with no way to know for sure if it's dead on until you reassemble and start it up.

The upside is that you can buy all the tools and parts and still only pay a fraction of what a shop would charge. The dude I got the 740 from was quoted something like $5000. I did it for about $1500 including $500 for the tools. But make no mistake, it is a BIG job and will take a long time. I'd estimate the first time I did it probably took 14-16 hours labor spread out over a couple of weeks (evenings and weekends).

Buy the Vanos kit from Beisan Systems. They are awesome and provide very detailed instructions which cover most of the job including setting the timing.

If you decide to take the plunge, I'll help out if I can, but it's been a couple of years since I did it, so I can't promise 100% clarity in my recollections.

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2002 X5 4.6is - Imola Red/Black (Sold)
2001 740i M Sport - Anthrazit Metallic/Black (Sold)
1998 M3/4/5 - Technoviolet/Dove (Sold)
2003 Z4 3.0i Sport - Sterlinggrau Metallic/Black (Sold)
2009 Mini JCW (The Wife's)
2015 i3 REx - Arravani Gray/Tera World (Daily Driver)