Did you try to do what this guy tells to?

https://www.youtube.com/watch?v=XiPK...ature=youtu.be

I removed valve cover then use an open end wrench for large nut holding timing wheel on end of intake cam while counter turning camshaft with another wrench. Then just turn cam timing wheel (thing with the square teeth) clockwise an 1/8 in and see if code goes away
The post I found info on says that you always have to advance timing even though code says under advanced. That is the default message. There is another way to check timing.
On the front is a screw that looks like it should be holding something but isn't. After you get all the timing points aligned, crank pin in, ect. If you remove that screw and insert a small
Drill bit it should align with the a hole in the timing wheel. I didn't find that info until trying
To time with the "timing tool" 3 times. I put a drill bit in the hole and wheel was way off being in the right spot. Turn till it lined up and bingo no code. Hope this makes cense. I just picked up a 2000 x5 with 4.4 that needs guides so I get to do it all over again. Not really that bad if you aren't in a rush. One more thing, I tried saving a few $ and make my own valley pan gasket while I was doing the water pump and guess what, Leaked so had to take that all apart again and just ordered a new pan with the factory gasket applied. Highly recommend going that route. I changed to evens coolant and electric fan also while I was at it. This was all on a 2000 540i sport 6 sp.. With 112,000 k

Sorry. Didn't see the youtube link until after I sent reply but yes that is exactly what I did.
Used the beisan systems instructions for timing because I did the vanos rebuild also and assumed that the timing tools do the job. Not even close. Wish I would have come across that info earlier on in my repair. I found it searching around some forums buried deep in one of the posts. This info should be at the front of any post where engine timing is needed!

I removed valve cover then use an open end wrench for large nut holding timing wheel on end of intake cam while counter turning camshaft with another wrench. Then just turn cam timing wheel (thing with the square teeth) clockwise an 1/8 in and see if code goes away
The post I found info on says that you always have to advance timing even though code says under advanced. That is the default message. There is another way to check timing.
On the front is a screw that looks like it should be holding something but isn't. After you get all the timing points aligned, crank pin in, ect. If you remove that screw and insert a small
Drill bit it should align with the a hole in the timing wheel. I didn't find that info until trying
To time with the "timing tool" 3 times. I put a drill bit in the hole and wheel was way off being in the right spot. Turn till it lined up and bingo no code. Hope this makes cense. I just picked up a 2000 x5 with 4.4 that needs guides so I get to do it all over again. Not really that bad if you aren't in a rush. One more thing, I tried saving a few $ and make my own valley pan gasket while I was doing the water pump and guess what, Leaked so had to take that all apart again and just ordered a new pan with the factory gasket applied. Highly recommend going that route. I changed to evens coolant and electric fan also while I was at it. This was all on a 2000 540i sport 6 sp.. With 112,000 k