I just got back from a visit to Yark BMW in Toledo, Ohio (an awesome service department, by the way - they earn a 5 in my book!!). Since last fall I have been driving with my DSC, ABC and Brake warning lights on. Everything seemed to be functioning properly during this time, but the warning lights were certainly annoying.
My suspicion was that there may be a bad wheel sensor on the drivers side, since the problem first manifested itself when the front drivers wheel basically "grabbed" and didn't want to release. After it finally released the DSC/ABS/Brake lights lit up like a christmas tree. The lights would stay on 99% of the time. Once in a while, when I would first start up the vehicle, the lights would be out. However, when I would drive a short distance the drivers side front wheel would again "grab" and lock up before releasing again and the lights would again come on in the dash.
Several weeks ago I stopped by Yark BMW while on a business trip to Toledo and had them try to diagnose the problem. Their tests reflected that the vehicle wasn't getting any readings from the front
passenger side wheel sensor - the side opposite from what I suspected. Unfortunately they didn't have a replacement sensor in stock, so I had them order one for me.
Today I ran down to Toledo and had them put the new wheel sensor on (part number 34 52 6 756 379) and that seems to have done the trick. All warning lights are now extinguished and after clearing the diagnostic errors in the vehicle and test driving it for a while there are no more error messages being reported.
I kept the old part, and it really does look like it would be an easy DIY to replace it on your own. Not being sure that this would correct the problem, I let the Yark service tech do it for me and it looks like my issue has been resolved.
The sensor was just under $100 and I was charged one hour labor, so I was out the door for about 2 Bens.