Hello mate I have the same problem with mi IS.
There are quite a few hoses connected that use the hot water to heat the vair in the breather system I guess the is for cold starts etc.
http://www.realoem.com/bmw/partgrp.do?m ... d=19900100
Look at the engine cooling system and fuel preparation system and inlet manifold on the attached link. Gives you an idea of the level of task in hand. To me it looks simple but as always with old bolts use good non worn tools and dont over tighten! May be worth just nipping up the inlet manifold nuts one may have vibrated loose.
Looks like the top part of the inlet manifold needs to come off to aceess all hoses etc. I intend to go down get the hoses I need and gaskets etc and give it ago.
All my hoses are persihed beyond repair so I need to change them.
Listen to the timing chain using a screw driver should help identify any rattles etc and maybe stop worry taking over.
I maybe off for a trip to BMW tomorrow lunchtime will let you know numbers and cost for boots hoses gaskets etc.
Cheers
Gareth