E39 523i smoking - 180psi compression test =(

[justlikemusic]

I have bought a (180k at the time) 195,000km(120k miles) E39 523i with the M52 motor for $10k (aud) and they are going for about $13k (aud) here at the moment. I thought it was the PCV which I have replaced... and it is still smoking on startup and when I give it a bit of stick.

My previous (AND FIRST BMW...) was an E30, 325e I LOVED THAT E30. IT IS THE BEST CAR. I am all about a drivers car, however with a higher end job I am finding time is starting be an issue...

I am faced with a problem =(.

I have compression tested the engine and it is across the cylinders 180psi or just under, 170/175psi.

Cylinder 1 170psi
Cylinder 2 175psi
Cylinder 3 180psi
Cylinder 4 180psi
Cylinder 5 180psi
Cylinder 6 180psi

Readings were after about 4-5 cranks.

Now I am faced with some problems I think, and Need some help, please.

I figure my options are....
1. Sell it for 10k and buy an E30 325i for $4k be happy with manual small car and buy rims, paint, bucket seats and M3 kit and paint it.. and save six months for a nice and well funded now from good job M50 turbo conversion.
2. E28 M535i ($4k) or M30 M5 ($5k) and megasquirt turbo conversion.
3. E36 320i and turbo conversion.
4. or... replace the engine with another decent motor ($3k got quoted).

or........ replace the rings myself. Work is close, and I have a Yamaha Serow, XT225 '94 and will take a month to get my licence for it. I figure if I have done the complete intake on the M52 with no problems... I can strip that in just over an hour and remove radiator and exhaust manifold... cables and gearbox crossmember and tailshaft and rip the motor out. Then replace the rings from the bottom end??? remove the sump, pump and unbolt the crank and front of the motor and change the rings and it will be ok???

I have spent so much time researching this, however time is a big factor and I need transportation to work *even motorbike is good for this*. The E39 is a boat compared to my E30 and I would love an E30 M3 replica M52 engined turbo manual one of those....

Otherwise my options are if I sell it...
1989 R31 Skyline RB30 turbo
1990 Celica GT4 AWD Turbo
Holden Statesman with 308cu" GM 5L V8
http://www.streetcommodores.com/imag...tesman_106.jpg

[justlikemusic]

I am googling away here about this....

Perth, Western Australia Altitude (feet) 416


............. ALSO, the test was with my left hand on the ignition trying to read the gauge. I didn't have the throttle open at all!!... Maybe I should try it again.

Tried it again on Cylinder1 with the throttle wide open and the same reading.

[Harls]

Sell Sell Sell

And opening the throttle during a compression test wont matter.

Have you checked that it's not your valve stem seals?

[justlikemusic]

I'll just repair it... it won't be that hard or expensive, compared to what it would be worth to me. Black E39 M52 2.5L is the perfect car for me. If I have a manual E36 325i I would thrash it and get police problems. Goal is to keep this and the XT225, and then get an '05/06 R1 cheap in a year.

How do I tell if it is valve stem seals? That was my initial thought. When I lift the rocker cover cap a bit of steam(smoke?) vents out of there... but I thought that might be heat from the oil. Is there any way to check valve stem seals and rings and have a definate answer on what the problem could, be?