You are missing a bolt from your crank pulley, did you do that? Also, I was expecting to see 13mm hex bolts, not torx bolts there, but it seems that BMW may have changed bolt style around 2003, so those may be stock...
http://www.xoutpost.com/article/E53%...ankpulley1.jpg

Stunt,
No...those clips (bands) are not re-useable.....

In a word......yes........a special tool is required to crimp the new bands/clamps.

Autozone has a (low quality) tool in the less than $15.00 range....it may/may not work for you........this tool failed me.........so I opted for the Snap On (Blue Point) ± $43.00 version......found here....

Edit: Re: Boots
Given the extent of your project......new axle boots are/should be a given (new boots/grease/bands)



Best,
Charlie

I prefer to use screw down hose clamps wherever possible. Just need to be careful not to screw them down too tight.

screw down clamps in this diameter would have too wide of a band. You'd also be throwing your balance off by a few grams... ;)

I wish it was just missing. The head snapped off one of the bolts when I replaced the water pump. I plan to replace all 8 bolts while I have the engine out. Hopefully it will be easy to get that snapped bolt out of the vibration damper.

Thanks Charlie. I'll pick up the Blue Point tool and replacement bands, and thoroughly inspect the boots once I get them cleaned out. The PO did state they had just been replaced but maybe I'll just replace them all as you suggest for piece of mind.

Some are too wide but a usable width is easy to find. I have some. I see no need to worry about a few grams if in fact that is the case since a gram is only .035 of an ounce. If you are suggesting using a screw down clamp is a bozo-no-no I disagree. There have been many times I have had something leak that when I replaced the clamp type with the screw type the leak was fixed.

That said, If they are good enough for BMW I guess they should be good enough for me. And, it does take some judgment to not tighten them so much they cut into the rubber especially on older hoses. For me it's an aftermarket part that I feel is better than the original even if it isn't.

Once you get the crank pulley off it should be much easier to remove the broken bolt.

Here is the same tool at a different price point

30800 CV Boot Clamp Pliers

For Ear-Type Clamps.
For all ear-type clamps including GM FWD outboard CV joints. Designed for use with a torque wrench, as required for stainless steel bands.

Shipping Weight: 1 lb. 3 oz.
Package Dimensions: 5.75"w 10.5"h 1"d
Suggested Retail: $37.35
UPC Code: 083045308003
Harmonization Code: 8203200010

30800 Lisle CV Boot Clamp Pliers
http://ts3.mm.bing.net/th?id=HN.6080...7&rs=1&pid=1.7
I have used this tool on the CV joint boot bands with great success.

Summit Racing has it at $23

Anyone ever seen a torque spec for the CV boots? maybe that's why the inner boots always leaked on the E46 Xi's, they weren't torqued properly? I guess it's nice to know you have that option with this wrench.