wow Sheepdog, that's quite cheap. Here in Europe, we can't find such deals!
Perhaps it's a good idea to make a thread an rethink some things about the M42 and its distribution.
I opened my old M42 last weekend, wich is one of the thirst M42's, November '89. The guide rails where broken in pieces and the timing chain slipped a tooth or two. But when I took of the carter, only thing I found where pieces of the timing chain. No lose bolts. The engine had 224k km's on it (140 000 miles), still with the original tensioner.
My other M42 which is an '90 or '91 engine, had only 140 000(86 000 miles) on it, according to the odometer and that had three lose bolts in the oil pan, also with the original tensioner.
I replaced the tensioner now and am getting a rattle noise from 3000 to 4000rpm. A friend of mine's, with an M42 with only 64 000 miles on it has the same noise around the same revband. I think he had his tensioner changed, because he bought it from a BMW dealer.
I do have heard from M42's around here who easily do 300 000km (186 000miles) and more without an overhaul, only changing the tensioner from time to time.
My opinion is, if the car is still in good shape and you like it, replace the distribution. You'll be happy afterwards.