I think you pretty much nailed what the major problems are for this model. You'll read about a few more things to watch out for but for now , you are on the right track. These are high maintenance toys so don't slack.

Welcome to the asylum!!!!!

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His : 2005 X5 4.8is (SOLD)
Hers: 2007 X5 3.0si (SOLD)
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Retired:
1999 518
2000 323i
2002 M3 (beautiful car)
2003 330Ci