Did the drill bit in the hole and matches up.

The fix. I retarded the camshaft sensor wheel counter clockwise by 1 imagination hole below the alignment hole and the P0011 code went away.

Why the alignment hole did not align properly. The upper timer cover is not fixed in a position. It has about 1-2mm of movement in all directions around the screws. These remain loose until the valve cover is tightened down then they get tightened down. With new seals on the upper timing chain cover and valve cover it can scew where the camshaft position sensor is in relation to the camshaft position sensor wheel.

I suggested that you do this on my second post on the first page. I indicated that I have done this procedure on my 4.4L BMWs and 4.6is. Once you get it down to just one code on a bank and the timing is spot on then you can adjust the degree timing sensor wheel. It's all part of the intricacies of the M62 engine

I'm an anal person when it comes to adjustments, if it's not spot on according to the manual the perfectionist in me would like to know the reason why. Quite a few threads saying to adjust the camshaft sensor wheel but no reason why. I only found 1 post with the reason and the theory behind it. You sent me in the right direction to find the information so I gave you, X53Jay4.8is, some reputation. Thanks

Well crap, from a P0011 to P0324. And it continues.

Adjusment
 

So why do you have to adjust a the set point of the trigger wheel?

Because the camshaft sensor is not in one set place. In the instructions it says to leave the upper timing cover loose until the valve cover is tighten down. With new seals it might not squash down to where factory was so that sets the camshaft sensor in a different place. All the codes went away when I used a pin the size of the hole to time the camshaft sensor wheel through the camshaft upper cover guide. I moved it less than 1/4 inch down from the hole. Running perfect so far.

Okay my theory of why goes back to the tools that we have a available for locking the cams. Most of the tools used to lock them are aftermarket, where as the BMW is more robust and far more expensive. These engines are very particular when it comes to timing. Like I said its just a theory. In March of this year I had my X5 ripped down to do the usual timing chain guide replacements, timing chains, whole 9 yards etc.) When we were done putting it back together she was timed spot on with the tools that I had. All seamed to be good and then after 275 miles of operation timing code was triggered. Scanned the vehicle and I cant remember if its was over advancement or over retardation but the cord was there. Everything lined up great after competing the timing re-check. This time around we went back and reset all of the adaptations and drove it again. That was over 3000 miles ago. So there is always something new on these vehicles but they are finickier than the average V8 engine when it comes to timing.

Vanos
 

The reason I asked is because if you use the correct timing tools and reset the adaptations you should not have a timing code. From experience if you loosen the intake cam sprocket "Vanos ". You can have problems due to the inner seals in the Vanos that are nolonger under tension. Then is oil pressure to adjust the Vanos unit is lost and then the DME does not see the camshaft in the position that it wants.

Well if the VANOS needs to be repaired then the cam sprocket would have to be loosened. I don't think that can be avoided in this case. I would imagine that clearing and resetting adaptations would be beneficial in this case.

Timing
 

If you loosen the intake bolt to set the intake camshaft timing then with out knowing you can cause the problem. That is all that I am saying. Resetting the adaptations does not fix the possible adjusting capability of the Vanos. But what ever floats your boat.