Thoughts on 2003 E53 X5 Three Pdeal

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I'm new to this forum...migrating over here from Rennlist as Porsche's are my primary vice. Never owned a BMW but driven some on the street and the track, including a few days at M school in Spartanburg.

I have recently taken possession of a 2003 X5 3.0 with a manual transmission. The vehicle was purchased new by a friend of mine, and I am either going to store it for him during the winter or potentially collaborate with him to restore it to its former glory. He mentally wrote off the vehicle last year after receiving some astronomical "maintenance" estimates from the dealer, and it has been a spare vehicle for him anyway. Being an admirer of the early X5's and a fervent proponent of manual transmissions of any variety, I refused to let him trade it in for what the dealer was offering. Now its on me to put up or shut up.

This E53 has been driven approx 125k since delivery on 10/10/02. The body is in decent condition with a few very minor rust spots and several door dings. The pads and rotors are shot, and the calipers will likely need to be rebuilt, which is all within my wheelhouse. The engine seems strong but has been noted by the dealer last year to be leaking some oil. I'm assuming valve cover gaskets but haven't taken a close look. This might be a bit above my pay-grade but I have some more talented friends that would probably be willing to help for booze. The interior shows some age but is functional; the only pressing issue is the bad LED pixels in the gauge cluster.

I will post some pictures and additional information in a follow-up post. In the mean time, my most pressing questions are:

1. Pads and rotors are the most immediate need. I'm seeing the Zimmerman/Akebono set on FCP Euro. Love FCP and have personal experience with Zimmerman rotors but not the Akebono pads. I know they have a strong following amongst German-car enthusiasts. Anyone have a strong opinion on something better for the same price range?

2. LED pixels seem to be a reasonable DIY project, and there appear to be rebuild services out there. Any opinions on the best option and/or reputable rebuilders?

3. How rare are E53's with manual transmissions? I've seen a few in the last 20 years, but haven't seen any numbers. Are these generally desirable vehicles? Is it worth "restoring" one to make it a very solid, reliable vehicle for occasional duty? Or is my personal love for three pedals clouding my judgement?

4. After 18 years and 125k, I am assuming the suspension is shot. Shocks, control arm bushings, etc do not usually meet my requirements after more than 10 years / 100k miles max. I haven't been able to thoroughly test the suspension due to the unreliable brakes, so I am wondering how much care and attention will likely be required here.

5. Any particular gating items before pursuing a restoration, like VANOS etc. If given an hour and a lift, what are the most important "PPI" categories to check that are unique to the M54 engines?

Thanks in advance for any help with thoughts, ideas, or simply pointing me toward existing threads that will help. Booting me back to the Porsche/Audi fanboy forums would be acceptable also. Cheers.