Update time! The cabrio is running nicely now after I replaced a bunch of stuff. New timing belt, water pump, brake switch (an E36 4-pin switch can be used in a pinch FYI). I have also tested every single light bulb in that car...a surprising number were burned out. Thank goodness I stripped every E30 rust bucket I've gotten my grubby little hands on...there have been some rare items that were damaged...13 button OBC, HVAC panel, oil cooler mounts, and ten different types of light bulbs!
She's almost ready for the road. Last major problem is to figure out what's loose in the front end. Then some tires, maybe a battery if I feel like spoiling her. I'll change the rest of the fluids and then decide if she's a keeper or a flip. Even though they are really nicely made cars, they're not worth much. She still needs a new top & interior too, and those don't come cheap.
In the meantime, I finally "converted" a gearhead friend into a BMW owner. After years of my talk, he finally caved in and snapped up a very reasonably priced '98 525i. Blue over tan leather, manual transmission, 200K miles. The car had been sitting for too long. Flat battery, broken hood release, old tires. We managed to get it started but it wouldn't rev. Once I popped the loose CCV pipe back into the snorkel, the car started to run very nicely indeed. It still needs a tremendous amount of work. Bits of rust around the corners, front bushings are shot, wiper motor is dead, ABS/traction/airbag warnings galore, bits of broken trim, doors not opening. The usual litany of E39 troubles. He'll get it sorted.