Yep, as Chad mentioned above, the cooling system overhaul should be your very first priority. This includes changing the radiator, expansion tank, bleeder/vent screw, expansion tank cap, thermostat, thermostat housing, water pump, belts, hoses, and fan. These items MUST be replaced every 75-100k miles BEFORE something breaks (and it will).
Otherwise, your plans seem good. Just about every E36 out there has weeping power steering hoses - not a big deal. Just make sure the fluid is always at the correct level. And yes, as mentioned above, many of the suspension bushings will soon start to go bad if they haven't done so already. Same goes for your ball joints and tie rods. Basic maintenance stuff, and VERY easy to do yourself if you're willing to take the time to learn. These cars are dead simple to work on.
There is a lot more info available in the "stickies" at the top of the main E36 forum page.
1998 BMW 328is
1966 Pontiac GTO
2007 Subaru Impreza 2.5i 5-door
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Last edited by ZeGerman; 11-30-2011 at 10:16 PM.