Hmm... leak, but what is this?
 

I'm new to BMW, and not too knowledgeable about cars in general, so I'm wondering what this is that looks to be leaking/sweating next to the oil filter.

what color fluid , maybe p/s hoses .

Either PS Fluid or the OFHG needs to be replaced.

Dark, looks like oil. Flushed the p/s fluid today, wasn't low. Will wipe down and see what's what. Here's the pic:
http://i1358.photobucket.com/albums/...psa30f478f.jpg

Looks like the Vanos oil line....does the other end come up to the front and have what looks like a large bolt through the end?

Well, the pic above is the front.. left side of the pic there's something that looks like a bolt, not sure if that's what you mean. Will take a took again tomorrow, and take some better pics. If it is a vanos line, is it a hard fix to swap in a new hose (assuming it's the hose that's the problem)?

Number 15

RealOEM.com * BMW E53 X5 3.0i Cylinder Head Vanos

If that's the line it's not a huge deal to change. Just tight quarters.

Thanks for the diagram!
Seems to be in the spot indicated by the diagram, but looks different from the part both in the diagram and on ecs... will get a closer look tomorrow.

See if it's loose first and if you can tighten it....that MAY solve your issue depending on where it's leaking from. If it's leaking on the crimped portion you will need a new line and washers as well.

You will need two new crush washers item no. 17.