My E34 525i auto touring has served me very well, not far off clocking 60k miles in the 3 years ive owned it, was just over 100k when I bought it.
I got ram raided by an office jockey in a kia which wrote the car off for a rear door/arch and was thinking about switching to an E39 540 touring that I would convert to LPG, but after all the horror stories I couldnt be arsed.
Im getting around 200 miles to £30 worth of gas at the moment, 20 - 22mpg, but LPG will be 5p per litre cheaper next week
As has been said, the SLS and fuel pipes rust, I had to replace a vent pipe on mine, easy job. The SLS has been fine though, a valve at the rear sometimes chirps away when the boot is overloaded but it carries on regardless. Ive replaced rear beam bushes, front upper and lower TCA bushes, front lower arms and ARB tie rods, also fitted good second hand steering tie rods and centre rod and it drives fantastic with proper sized wheels/tyres.
I fitted a new waterpump and rad when I bought it, never had any engine troubles, autobox started to get a bit lazy after the first few thousand miles but an oil and filter change made a world of difference. Need to change the aircon compressor in the near future as its got a slight leak and the pressure is too low for properly cold air but its an easy and wallet friendly job.
The only niggle I have is the wiper linkage is badly worn so the wipers dont really work above 65-70mph, but I can live with this, its a nightmare to change due to aircon pipes/heater box being in the way and a new linkage is the best part of £500 now. I have an unworn second hand one for when it wont pass an MOT or for when im feeling brave or very, very bored...
Everything else is just great and much more than you would expect from a 15 year old car that gets used every as a workhorse