Welcome!
All service items you mentioned would be good to perform. And brakes are nice to have!
The plastic cooling system is something that requires attention. Expansion tank, upper & lower hoses, temp & level sensors, auto tranny coolant temp sensor, fan blade - all will be something to consider especially without service records. Get the dealer-provided expansion tank - this is not the place to save a few $$. Then there is the "Should I change A/T fluid?" conundrum.
Bimmerforums & Bimmerfest both have good E39 forums:
http://www.bimmerforums.com/forum/fo...996-2003-(E39)
http://www.bimmerfest.com/forums/forumdisplay.php?f=103
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