I have a 1999 740 that smokes like crazy out the tailpipe. I have replaced the breather assembly on the back of the intake. Pulled the lower pan and made sure that I could blow air through the ccv and it is open up to the valve on the back of the intake. Anybody have any ideas????? It is oil smoke.
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Does it smoke constantly....that is, while you are driving, does it smoke the entire time you drive, or only after you sit at idle at a light? Quite possibly you have a cracked ring....compression test results?

jake

welcome! if you have not yet done so, look here also: www.e38.org and SEARCH for OSV