Is the sound coming 100% from the engine bay?
Yeah, it's getting louder and you can clearly hear it whistle from around the inlet manifold.
Took it to my local BMW dealer, one of their service guys came out for a look and, after slagging off my Power Boost Valve and other mods, concluded that either a gasket has gone or the inlet manifold has cracked. He recommends letting the engine get up to temp, then soaking each cylinder inlet in turn with WD40 to see where the leak is.
He also reckons it's a cheap fix, that is 2 hours labour @ Ԛ£67+vat each plus parts.

Yeah OK mate, I'll find the leak, get the parts cheaper any multitude of places and either do it myself or pay and independent Ԛ£20-25 per hour cash, thanks anyway.
Oh well, sounds like a good excuse to get that "Alpina" type inlet manifold & rocker cover I've been thinking about... just have to convince the wife: "yeah love, the car won't work without these parts and the 'black' ones were cheaper..."

'89 325i - was an SE but not anymore, was bronze-beige metallic (yeuch!) but now techno-violet (thankfully)
'89 Toyota Corolla GTi-16 - track, hillclimb & sprint car (yeeha!)
'08 Buell XB12Ss - American engineering at it's 'best'... good fun though