When I bought the car, it was a plane-Jane white BMW 525iT.
The car has since been completely transformed into the wagon that BMW should have built from the start.
The engine, transmission and rear-end were all pulled and replaced with the following:
The engine is from a 1998 M3 (S52), the automatic trans was converted over to a ZF310 5-speed out of the same M3, and the rear end was swapped over to a 3.46 limited slip. As of August of 2009, she has been boosted with a one-of-a-kind Active Autowerke C38 supercharger kit and estimated power is 428 at the crank.Active does not make a kit for the E34 - let alone an E34 with an OBD1 converted S52, so this kit is really a one-off in every way.
In addition to the basic conversion bits, the car also received an M50 manifold conversion, a UUC Motorwerks lightweight flywheel with an M5 clutch and pressure-plate, Dr. Vanos Stage II vanos kit, Bosch 24# injectors, Bavarian Autosport HO coil packs, and a BMW 540 3.5" MAF strung to an ITG filter. The ECU has custom software from Jim Conforti. It gets rid of the burnt-up stuff through a Remus exhaust system.

On the outside, the nose and tail were swapped over to solid-white covers, and 1995 E34 skirts were added. The car rides on forged BMW M-systems throwing-star 17" wheels. The OEM headlights were changed out to European-issue Hella fixtures with city-lights, with the adjusters made fully functional.
Every single item relating to the suspension has been replaced with all factory components. The exception to this are the springs and struts. The springs were sent from England by B&G and they are specific to the Touring. The shocks are Bilstien HD's. Brakes are Hawk HP pads with Brembo discs all around. Cornering is aptly handled by Racing Dynamics swaybars fore and aft.
The intieror has gone through a fairly remarkable transformation as well. The seats have all been re-done in the correct factory dove grey color, a new headliner was installed, and the plush all-leather door panels from a 1995 E34 were hung. An M series steering wheel with correct tri-color stitching was installed and perfectly compliments the M series illuminated shift knob.
Audiophiles rejoice - the car has a lot to offer. The head unit is an Alpine CDA-9884 running to an Alpine 4 channel amp for the mids and highs - also all Alpine. The lows are handled by a separate Kenwood 500 watt amp driving a Kicker 12" sub in the back.