Oil Filter housing gasket doesn't make sense to me - is it the valley pan gasket? I could understand that price for a full head gasket set but not the oil filter housing gasket.

what are the specs of your X? what year/engine?

This is the oil filter AND gasket for my X - BMW E53 X5 N62 4.4L > Maintenance > Engine > Oil Filter > ES#24003 Oil Filter Kit - 11427511161

06 3.0

the mechanic told Me himself that the basket is only like $5 but the book says 6 hour labor

The location of the oil seal housing gasket can be seen in this photo, it's the square opening toward the front of the block.

http://i301.photobucket.com/albums/n...ps136400fc.jpg

To take off the oil filter housing you must remove the fan clutch and fan
Fan belt
Alternator
Power steering reservoir
and then the oil filter housing.

My indy quoted me $500 to do it, but I just brought
the gasket, new crush washer for the vanos line
and a six pack of beer and the next 4 hours with my brother.

Hardest part was removing the clutch fan even if you have the special tool.