new owner looking for assistance

[racingbmwm3]

Agree on swapping cam sensor with bank 2, and double checking the ground connections. Just to verify, you are looking at the passenger side of the engine correct? Bank 1 - passenger, Bank 2 - Driver.

It should be very difficult to get the coils plugged in wrong, but verify that all the wiring going to the coils look nice and neat. All the coils are bolted down snug?

Harness from firewall looks ok, no cracks/tears/rodent damage?

I'm not so sure that the problem would be with the gasket itself, otherwise you should be getting mixture faults also. Most likely a wiring issue, but it could also be related to the cam sensor.

Also, nobody has mentioned this yet, but that first fault sounds like your thermostat is dead. do yourself a favor and disconnect the thermostat and inspect the connector for a coolant leak. The v8's had a tendency to leak coolant through the connector into the main wiring harness and over time coolant could travel all the way back to the DME. So if you have any coolant inside the thermostat connector, I'd check the DME next and look for coolant there.