In just a few hours I'll be buying a 2002 X5 3.0, 188k miles, premium/sport packages, white on sand.

I did a little research and it seems transmission like to go out. I drove it quite a bit and it seemed fine except for a rolling stop lag which I think I may have read is common, and maybe fixed with a transmission software upgrade?

Thing I'll be looking for:
left outer tail light (amber). Or all 4 clear.
OEM tow hitch and harness
front and rear emblems

Wish me luck, here's a pic: