I've had the pleasure of removing the exhaust manifold off the captains e36 and it took some doing, but nothing's impossible . The nuts will probably bring the studs with them but you can combat that without too much trouble. You would benefit from having the car on ramps at the front I would imagine - can't quite remember if the e34 set up is the same but I'm sure you'd need to get under to remove the manifold from the exhaust itself... Those nuts holding the manifold to the exhaust pipes take some force to remove so have a breaker bar on hand. Go for it if the car's good otherwise - if nothing else it's a good challenge!