I agree with Jeff across the board. You would most likely have coolant in your oil or vice versa on a head gasket, and it would probably be overheating pretty badly as well. If it were leaking coolant into the chamber, your power would be crap and the ECU would be screwing with the fueling. How's your mileage?

Spend the $150~ for parts and swap the seperator out yourself. Do all the related lines and the distribution piece. If your valve cover gasket is leaking, replace that too, but not unless you are going to do your seperator. It will just blow again.

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2001 E53 3.0 5pd