I have a 1985 323i. At the moment the petrol consumption isn't soo good. I think it is worse than my fathers Mitsubishi Lancer Evolution VI, which isn't known for good mpg.
I think it got worse when I got the new standalone engine management system fitted. When I first got the car I think I was getting about 9L/100 (I think that is about 26mpg) but I wasn't driving it as hard as I do now and it was completely standard. At the moment it seems like I am always filling up. The 4.1 diff probably doesn't help either, although I didn't really notice much of difference to the petrol consumption when I got that fitted. I didn't actaully check it though.
I will check though with my next couple of tanks of petrol, I don't have an OBC so I'll have to do it manually. I will pm you the result, just to give you an idea.
The ticking is my biggest problem with the engine (well that and it's inability to rev past 8000rpm

). Mine is probably worse than it should be at the moment because the camshaft is worn and the whole car is probably due for a service. Sometimes at idle it doesn't even sound like a car anymore, more like a cross between a truck and an analogue clock.
Aston