Faults:

Valve gaskets were replaced, cup holders are broken (they are useless anyways), light-bulb socket is lose in the trunk, drive belts replaced and a preventive cooling system over-haul is about to be performed.

General Comments:

This car drives like your best car fantasy.

The 0-60 time is 5.5 seconds... very nice for a 'family' sedan.

Passing power on the highway feels like your driving a sports car.

The seats hug your body through every turn.

Now the negatives...

Interior styling is slightly dated.

High up-keep costs.

You will need a new cooling system every 60k you drive.

If you drive it like it is meant to be driven you will go through your 19+ gallon gas tank fairly quick...11-15mpg.

All set and done I couldn't enjoy this car more. I look forward to driving it everyday!

Faults:

Nothing went wrong with this car at all. Just the basic wear and tear like tires wearing out.

General Comments:

This car was VERY fast.

It handled very well for a big car.

If you pushed her too far, she would be easy to get back in line.

The build quality of these cars is a amazing (better built than my E65 7-series and Mercedes SL500), thou not as well built as the previous 2 5-series I have owned (the E34 shape).

The radio/TV/SAT NAV phone where of high quility.

She drove very well on my 19inch ACS alloys which surprised me.

Faults:

The ABS and Traction Control sensors went on/off causing the speedometer and the fuel consumption meter not to function. Although the ABS and Traction were fully functional: fixed by dealer at no charge (would have cost me at least $600 CAN to have them replaced)

Nothing Wrong for 90000 km.

Now at 116000 the Trunk lid Open sensor has become faulty, but it doesn't concern me, it just pops up every time I turn the car on and leaves after 10 seconds.

Phone was stolen, cannot find it anywhere, not even Ebay, BMW says the phone is discontinued and they don't have it anymore which is kind of weird!

General Comments:

The car drives like a dream, it accelerates so quickly that my friend who owns a 330CI decided not to race me with his car. It reaches high speeds ridiculously easily, I topped 280 kph (174 mph) the car could have gone faster, but I was just worried cops might catch me going 160 kph over the speed limit.

The stereo is Superb, I especially enjoy the Concert feature on it which gives the sound a slight echo with its 13 speakers!

The seats could have been more comfortable though and the shocks are slightly stiff, but that just adds to the driving pleasures.

You might ask then whats bad about the car? Fuel consumption. 540i kills me at gas station, especially these days when premium gas is a $1.35 in Toronto. I've learned some driving tricks to keep the consumption a bit lower, but I still average out about 15 l/100 km which is only 15 miles to the gallon, but that's the price I pay for 300 horses, and I'm used to it having owned a Lincoln Navigator right before this.

All and all a very well designed, high performance, luxury, gas guzzler.