Should I buy a high mileage iS?

[Pushrod]

I've been lurking here about a week since I found an iS with which I've fallen in love...

...it's a 2004 Imola Red 4.8iS with the two tone cream beige / black interior and 111k miles on it. From what I've been able to determine, it's been serviced exclusively at a BMW dealer. It's a southern car and looks to be in great shape.

I called the dealer that serviced it, and it seems that it's had hardly any issues. The only item of significance that was replaced were the ignition coils about 15k ago. Everything else is minor wear and tear stuff like brakes, oil changes, etc.

I've owned several BMW's in the past, including a 1997 540i that I ran to nearly 170k miles before selling and a 1999 540i with 6 spd manual that I ran to 150k miles before selling. I love driving a BMW! The 97 was a great car and had very few issues. The 99, on the other hand had just about every M62 issue known. Seems I was always working on the 99. I do most of my own work and will tackle just about anything short of a transmission rebuild or major engine tear down.

After reading many of the horror stories here, and considering the history of the car, with it having very few of the more common N62/X5 issues addressed, I'm rather nervous to purchase it. I'd hate to buy it and find out within 10k miles that it needs a major repair. It's never had any transmission work (original fluid), or the levers done, or any work done on the air suspension.

The price I've negotiated is $10,500.

So what say you X5ers? Is this a good deal? How much risk would I be taking on? Would you buy it?

Thanks for the help!