1994 BMW 530I FRONT-END/STEERING has VIBRATIONS/WOBBLE?????

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I recently purchased a 1994 BMW 530I - with a 5 Speed Manual tranny. It had a typically loose suspension for 120,000 miles and when driving it the front tires wobbled side-to-side quite violently between 50 and 60 MPH. But the engine is strong and recently re-built.

I figured suspension and steering parts were worn so I performed a surgery and after all was done the car rides like brand new....except for the fact that the vibration is still there. It is not as violent as the front end is now tighter and helps reduce the vibrations...but it is very much a problem and is pretty shakey between 55 and 68 MPH.

I took the car to a BMW mechanic today and after checking all the tires balance and double checking the allignment and all of my suspension work...he told me that the steering gearbox may be warn and needs to be replaced at a cost of around $1750,00 for parts and labor. He also said as I had felt...that it is in the front end and is not driveshaft related, or rear-end related.

My brother (who drives a restored 93' 750IL) says that the gearbox can be re-adjusted (tightened) to remedy this problem.

So you all know exactly what has been done so far. Here is the list of the surgery I performed on the steering and suspension and the other little work done to try and fix the vibrations:

ALL NEW PARTS INSTALLED: Installed under BMW Load specs!!
Control Arms - L & R Side
Thrust Arms - L & R Side
Tie Rods - L & R Side
Swaybar Links - L & R Side
Idler Arm
New Front Struts (Billstein Sport)
New Rear Struts (Billstein Sport)
Wheel Hub and Bearing Assembly - L & R

ADDITIONAL WORK:
4 wheel allignment by BMW using weights and all neccessary procedures.
All tires were balanced by BMW.

This brings me to January 25th, 2005 where I now set wondering if I need to replace the steering gearbox....or if it can be tightened to fix it. I figured I would stop by here as I usually find better answers in forums than I do wondering the city of LA talking to mechanics that are all out to shaft you.

So everyone....what do you think is the problem....can you please help me fix my car whic I do love so much. And if I need a new steering gearbox....any ideas on the best place to purchase one at a good price?

Well thanks all for helping and keep your wheels on the ground!!!!!

RC