Ya, its the switch. New OEM is only $11, so ordered one. Its really got bad FAST. What I found was that if I hold the key to full stop and jiggle the shifter in neutral it will start. And now I had a no-start after work. So its no longer after long cool downs.

Did much more digging. Replacement seems easy but in a tight location. Guess I will be doing a lot of little things this weekend!

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