The answer is yes and it depends on tires. All E-38 tires are larger in diameter than E-32 and E-34. You therefore need a shorter tire with M//'s to fit on an E-34 which means you can run the same tire width as what is on the E-38 but need a lower aspect ratio tire. E-38 M// aspect ratio of 50 will not fit or will be very tight/over spec in tire "height". Why incidently M//'s are more comfortable on an E-38....more side wall to absorb road shock as compared to the same wheels on an E-34.
HTH,
George