Bella's 323i has had an intermittent engine light over the past few months & since I drove it to work a couple times in the past couple weeks I noticed it seemed down on power as well.
I don't have an OBD-II reader, never had the need for one since the 951 doesn't have an OBD port & my other cars were new & under warranty, so dealership they went. Borrowed a buddies reader, slick little bluetooth unit that I just downloaded an app to use. So I read the codes & it was a camshaft position sensor, timing over retarded. Did a quick google search and its basically the Vanos Solenoids that are acting up, both intake & exhaust. Found a YouTube video were you take them out & clean them with MAF cleaner, or carb cleaner & test then with a 9 volt battery to make sure they open & close. So I did that this afternoon & it seems to have solved the issue. The engine light went away & the car runs MUCH better, pulls much stronger and quicker. I also cleared the codes now, so I'll see if they come back over the next but. New solenoids are $85ea thru Rockauto, so if it comes back I'll order a new set.
Here's a couple pics.
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