I've been following Merlin's progress on bimmerboard.com's e32 page for the past year or more. He finally has his conversion on the road. He took an L98 5.7 Corvette motor and bored it .030" over & stroked it to 383 in^3 & put it in his ailing 735i:
http://www.bimmerboard.com/forums/posts/337176
He built his own headers from scratch which were a work of art but the links for pic's of them have slipped into cyberspace.
Some may say heresy, but I think it's cool. After all, these are our cars to do with as we please & I've always been a sucker for sleepers & he can get just about any part he needs on a Sunday afternoon at the local Pep Boys.
Cheers!