Okay...checked alternator...spins freely with little resistance and no hint of bearing noise. Belts are definitely getting replaced. Pulley wheels all seem okay...no squeaking or bearing noise.

Digging farther, now that I'm in this deep, I took the intake manifold off (that was a real treat) and found the following issues, other than the water pump, of course:

1. Oil separator lower line was completely split...oil everywhere.
(took all the plastic shroud out of the engine bay to gain access to rear of engine, but still can't see where that lower oil line connects. I'm guessing this is gonna require a mirror and some creative methods to replace)

2. Standing oil in the valley pan (no mystery here)

3. Little nipple on the rear intake cover (CCV?) at rear of intake manifold completely broken off.

4. All thin rubber air lines need to be replaced.

5. Looks like some of the intake manifold gaskets were leaking, as are the valve cover gaskets (assumed this already and have added to parts list).

My parts budget for this project is $400, but not sure I'll be able to get everything I need. If you guys know of a place that might sell parts cheaper than Pelican Parts, or if I should buy certain parts from the dealer to ensure BMW quality, I'd appreciate the info.

Also, for anyone who has removed their intake manifold...does your main alternator power line go over the driver side valve cover and get pinched between the water pump tubes and intake manifold? I found the routing of this large gauge wire to be a little strange and taking the long way for a short route. It mates with the battery terminal on the firewall that is used for jump starting, so why wouldn't they just route it along the fender?

At any rate, I have a feeling that once I get all this stuff done, it's going to fix my cold start problem and my overall idle problem, and quite possibly increase my MPG.

__________________
Current:
2001 BMW X5, 4.4i, 138K miles, Black & Tan.

Past:
1984 318i
1993 318i
1993 325i
2001 325i
1997 528i
1974 Porsche 911 2.7
1976 Porsche 911s
1978 Porsche 911 Targa
1985 Porsche 924
1987 Porsche 944 S2 Cabrio