You've got the M30 engine don't you?
Battery disconnect is not necessary, but it's nothing to worry about as long as you know the code for your radio - you'll need to reset the time on your OBC too, but that's about it!
The stat housing on the M30 is metal so no worries there - if it looks ok and the bleed screw is intact and not all chewed up, then just leave it, otherwise get a new one if it's old and horrible.
If you're doing a full coolant drain (you can change the stat without doing one but you should really do one every 2 years or so anyway and flush out with a garden hose) then drain the radiator, then the block, that should get the majority of it out. Disconnecting the hoses can help, but make sure that you don't damage them and that they're not too old and worn with split ends etc.
Do you know the history on your water pump? Might be worth thinking about doing at the same time if you're doing a full drain & flush. I'm paranoid as I had an M20 E34 where the water pump went causing major overheating problems, and my M30 E32 where the water pump went, fortunately without causing too many problems - I had a spare one in the boot in preparation and changed it a couple of days later!