Thanks guys.

I've not tracked down the source yet. Spent about 4 hours cleaning her up yesterday. Had to take a lot of stuff off to get room. Then sprayed it down with degreaser. There was a lot of oil around the VANOS solenoids. I've had iterations to replace those gaskets and the internal check valves behind the solenoids.

The upper covers were covered with oil to the point I could not tell if they were leaking. The dealer had said they were, along with the lower cover.

A BMW mechanic friend said that the job was time consuming and the main difficulty was getting the main crankshaft bolt off. Something around 400 lb-ft of torque required.

Now that she's cleaned up I'm going to put it on ramps and let it run until I can spot the leak.