My inlaws bought a 2004 325ci right before the snow fell at the end of October (~42K miles on it), they then parked it in my garage since until spring. Because of this I can't comment much on the reliability or anything as its' barely moved in the 4 months they've had it, but I did drive it 8 hours for them as they bought it in Calgary and had to drive back to Grande Prairie and I gotta say it was a fantastic car to drive!
Even with the smaller 2.5L it felt it had tonnes of power, even though it's an auto. Their's is fairly loaded too with leather, adaptive xenon lights, harmon kardon stereo etc. and it's a sweet looking ride. Definately one of my favorite years of bimmers.
I read somewhere, maybe on a bmw forum or here, from a guy that owned a lexus then a bmw. His quote was "you drive a lexus, you wear a bmw", I couldn't agree with him more. The car felt as if it was part of you.