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Just been reading your post about head gaskets and bmw's and seem you know what your talking about. I bought a P reg 323 from my a friend, 136k miles 3 weeks ago and its just had 12 months mot. When i bought it i said the power was a little low due to the cat was a going. Ive driven it for 3 weeks now never revving more than 3500 or going over 80mph (downhill). Yesterday the cars had it, found some creamyish stuff under the oil cap, low power (like really low power) hardly revs and cant get over 30 mph, and it bounces whenever you accerlate or the revs go under 1000. When getting out the car it smells like the clutch, but then again i dont really know alot about cars.