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I think the biggest thing to worry about is the timing chain guides, they are made of plastic and will eventually fail. The cooling system is also another area to look out for, lots of plastic constantly heating up and cooling down will eventually make it brittle. If the components are original expect to do them soon.
Other than the usual maintenance on a 14+ year old car, they drive amazing. The 540i will be a noticable upgrade in performance from your 328i, with more room as well. If you can do most of the maintenance/repairs on your own it will really help keep costs down.
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