Maybe it is. Owner never noticed the white stuff before. I guess draining the oil will be the tell-all on this. Fingers crossed!

And thanks for the Ford reminder. I now recall working on my 73 and 79 Mark Series. I remember white-ish build up in the valve covers. Not much, but some indeed.

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1991 560 SEL / 185k miles
1992 750il / 17k miles - project car