Now finally, the Cam Position Sensor might also be a cause of the car running poorly and not starting. I'm pretty sure it's at least partially responsible for the problems. Sometimes you can clean them and make them work. If the engine won't crank over, sometimes you can gently wiggle the wire and retry starting it. Since the code popped up, you might as well replace it. They cost about a hundred bucks. Here's a recent thread I posted in:
http://www.318ti.org/forum/showthread.php?t=30547 It's item# 6 in this diagram:
http://www.realoem.com/bmw/showparts...85&hg=11&fg=10 Oil in the spark plug holes is a common problem. It usually isn't really a problem unless they're completely soaked and the contact is submerged in oil. You can take some paper towels and soak most of it up. If you remove the plugs and allow the oil to enter the cylinder, your car will smoke like crazy and you might foul the spark plug(s). Try to get it all cleaned out before you remove the plugs. The cause of this is a bad spark plug hole seal. There's 4 of these rubber seals and they come with the valve cover gasket. Order a new valve cover gasket, it's pretty simple to replace, just make sure the spark plug hole seals stay seated when you replace the valve cover. Use a torque wrench on the valve cover and don't overtorque the bolts!
Man that was a lot of typing. I hope I helped answer your questions. Best of luck!