I just came from my indy where I got a state inspection only on my 2003 530i. As a "courtesy" they do a quick visual inspection on other parts of the car. They said my valve cover was leaking but they said that is not unusual for an E39 with 118K miles. I check my oil level once a week and have not noticed any appreciable increase in oil consumption. I generally add only about a quart between my 7K mile oil changes. I do see some sooty/dirty residue on top of the engine but I thought that was pretty normal for ANY car with 118K miles on it. Question: Is that "soot" an indication of a leaky valve cover? I'd appreciate any info from others who have had leaky valve covers. Thanks.