I replaced both faded, chipped lenses on my '88 260e and it really makes it look better. Fastlane sells them under "headlight rim". Be careful not to break the plastic clips that hold the lens on, they get brittle with age.

If you don't like yellow fog lights, you can remove the amber cover while you have the headlight apart. I took the covers off of mine and put in 100w xenon bulbs and have nice white fog lights now. I made sure that the added wattage and removed cover would not damage the new lens and after several years everything is still fine.