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FWIW I bought a higher mileage '08 E92 to develop into a "track car." I say that in quotes, because really right now it is far from a dedicated track car like some of the cars on this forum.
Right off the bat I would do rod bearings, TA's, and injectors if they have not already been done, so as Redd stated, rod bearings are really a moot point. Vanos covers are something to consider, especially if you are tracking. I went CarBahn there, as I believe the bolt-on style covers are the best.
I have an LCI e90 that I daily drive, my E92 is pre lci, and I will say the newer iDrive is much nicer. If you plan on street driving a lot, then it is a nice thing to have. If you are looking to strictly track, or even have a clubsport style car, I would rather have a single hump.
Synopsis: LCI vs Pre LCI really doesn't matter if you plan on really tracking it. I also wouldn't be very worried about miles as long as the big 3 has been done AND there is a history of proper maintenance. If you plan to street drive a lot and want iDrive, the LCI iDrive is a lot nicer.
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