When I had my e39, I purchased one of DDM Tuning's M5 bumper packages (not OEM). For the cost, I was pleasantly surprised! The one thing you need to realize is that will all aftermarket parts, you have to have reasonable expectations. Paint and finish are the most important things. Expect to pay around $300 for it to be properly painted.
As for headlights, the question is whether you have HIDs or standard bulbs. If you have factory HIDs, you'll need to stick to OEM lights. If you have standard bulbs, I've used the depo lenses in the past. They worked well and didn't look hideous.
Hope that helps.
Bookmarks