Posted this on bimmerforums.com but figured I would show some M42club love. I am new9(ish) to the scene but I do plan on staying in it for quite a while. I've pasted my original post, and I will post my updated engine pics and more progress as I move along. To sum it up, I am refreshing a lower mileage engine (~150k). Details are below. It will eventually run on a dyno for some stock(ish) numbers. Hopefully this is posted in the right spot. Enjoy and stay tuned for updates...
Original Post:So I've been gathering information and opinions off of this website for about 6 months now. I'm not going to type a long drawn out story to bore you all to death.
Vehicle in question: 1991 318is @ 279,XXX miles. 1 (majority) owner, 1 additional owner for about 3 months, then I ended up with it. Relatively good service records. Engine is tired. Sounds clankity, stumbles like a drunk, and is well overdue for some E30 lovin.
Pics: (can't go without, and this thread will be filled before the end of this project)
Before I Bought It:

(Headlights are being replaced - Cibie Brights with Hella H4 reg's, also thinking about wiring up the city light option)


After:


The pictures make the paint look awesome but you guys can't see all the chips on the hood and front bumper. There is a small spot on the driver side rocker that you can sort of see.
Anyways, on with what's going to get done.
Engine: Replacing the tired M42 with a 150k mileage one.
Before the engine goes in, it will receive lots of attention from myself.
Here's a list:
Timing chains/guides/tensioner
Water Pump/Coolant Flush/T-Stat (88*C)
Mess Under The Intake will be removed
Upper/Lower Intake Gaskets
Throttle Body Gasket
Valve Cover Gasket
Vacuum Hoses
Upper and Lower Chain Case Gaskets
Upper and Lower Oil Pan Gaskets (along with a thorough tightening of everything inside)
Coil Over Plug Kit (still determining if I have $ for this)
I will be doing a tad bit of paint work as well. I have an idea for the valve cover and intake manifolds. I might also hit the throttle body to match. Nothin crazy. Probably just black with some accent paint on the ribs that stick up. I like simple, and I'm not a ricer. lol. Other than all of this, I may have found a chip to throw in after the damage is done to the bay. After all is said and done, I've got some dyno time lined up at a semi-local shop. I actually won this stuff at a raffle which is awesome. 3 dyno runs and $50 off a dyno tune. We'll see how it all plays out. Anways. I'm done boring you. More pictures of the previous engine/bay and maybe a few more of the car. Then after I start getting parts in. Thanks for looking. Any suggestions are always helpful.
And while I have the engine bay nice and empty (for the most part) I will clean it up the best I can and get the paint to look decent and call it a day.
My budget is about $650 for all parts/paint going towards the engine. I will, however, be spending about $200 on an engine stand and lift w/load leveler.