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The oil separator kit for your engine is covered in a BMW SIB. Let me know if you need it. The part you'll need is the "Heated wrap with cable" 11 61 0 390 846.
The power steering hoses (amongst others these days) have crimp-on style hose clamps that will ALL leak over time. I've seen some wet at 30,000 miles. Assuming you have no serious leak, changing those hose clamps out to standard style clamps (which BMW does on a repair job) is the least you should do. Some people just use that opportunity to change the power steering hoses out as well (at least those that are obviously wet).
The oxygen sensor should be changed every 100,000 miles per BMW. I'm pretty sure your engine has 2 of them. They are part of the catalytic converter system.
Coolant hoses, if they've never been changed and you are going to do a flush and get a new thermostat and water pump and drive belts, etc. should be changed as well. Nothing will ruin your day faster than a blown coolant hose on an expensive car while in the middle of nowhere (ask me how I know).
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