Just a thought -- only a thought -- but have you considered a newer 535 instead of the older 550? As Eric Coffey pointed out, there were running changes that enhanced the 08-up 5ers. The 535 is 300 pounds lighter than the 550, and better balanced. The 535 6sp does 0-60 in 5.4 secs where the 550 does 5.2, not a big difference. But the inline six is a BMW strong suit, and it also gets 5 mpg better than the V8.
This one would be about $26K
2009 535i 6 speed
62K miles
ZHP Sport Package, heads-up, NAV, Bi-Xenon adaptive lights, prem pkg, park distance control, etc