I found a bit of info - a little more than I needed to know - pretty comprehensive info right here.
Thanks Dave for the input!
Unfortunately, none of the symptoms listed in the link are the case with my motor.
-I do not feel any power loss.
-The noise continues even after the car warms up, and the oil i use is 0w-40 which is perfect for PNW cold weather.
-Car is a DD, so not much of lateral brisk driving.
I'm really at a loss as to what the issue might be, maybe all it takes is to just unbutton the valve cover and see if anything is loose or evident. Never done it before.
I found this link:
http://forums.bimmerforums.com/forum/showthread.php?t=1877467 , that to a certain extent gives a list to check once opened.
Any thoughts?