Did you already buy it?
I have a '94 530im (original block), and personally, if I were to do it again, I would avoid the M60 motored cars. The newer M62 is much better, but the six cylinder cars are far more durable and trouble free.
FYI, My 530 has 110k on the clock and runs like a top and drives wonderfully, but that is not by accident. I have spent about $10k (and I do a lot of my own work) on it over the last six years keeping it in top shape and I still have nightmares that one day the engine will die. I have had leakdown test done at the dealership about every two years and the car passes everytime.
I personally have replaced the PCV plate twice and replaced all the intake seals, galley seal, O2 sensors, valve cover gaskets (three times) etc. etc. These are just engine issues. Power steering hoses are a PIA on M60 cars and they fail far more frequently.
Also, BMW had a problem with the 5-spd on the 530's in that the detent mechanism fails on the 3rd to 4th gear (there is a TSB on this). I had that replaced once before and just proactively replaced all the detent mechanisms on it when I had the clutch rebuilt here a couple of weeks ago.
If I were you, I would skip the 530. If you really want an M60 car, get a 540 and be sure it has the new block. More power and that one tranny issue is not a factor.
YMMV, but I speak from experience on this one.
Robert Callaway
Dallas, TX
'94 530im 143k mi
'94 Land Cruiser FZJ-80 202k mi.
"If I could have back all the time and money I ever spent on cars.......I'd spend it all on cars."