i'm 17, a bit naive to the whole "car" thing but reasonably educated given my age, and eager to learn... i was incredibly lucky enough for my father to trip across a beautiful 87 535is just before my 16th birthday, and for that i am eternally grateful. but anyway, after reading this forum for the past couple days, i have a few questions of my own that i was hoping somebody could maybe shed some light on:

#1) when starting in fairly cold weather, my engine promptly dies if i don't give it some gas to keep the revs up a bit for 15 seconds or so, is this fairly normal? is there any simple way of fixing this?

No, this isn't normal. If the car idles normally after it does warm up, the problem most likely is in the cold start enrichment circut, probably the thermo time switch, or the cold start valve. The Bently manual (great investment) details good troubleshooting procedures.

#2) after putting up with the Michelin TRX tires for over a year, it's time to get some real wheels and tires. right now what i'm looking at are some new Kosei 17x8s and Pirelli P7000 supersports. any comments on these wheels or tires? and is Tirerack.com a good place to get these?

Tirerack and Direct Tire online are both good places to find wheels for the car. You probably won't be able to get Kosei's though. The bolt pattern on the car is 5x120mm, and you will need an offset of 20mm, which will limit the wheels you can put on the car. 8 inch will be too wide unless you are willing to roll the rear fenders, I have 17x7.5 on mine, and mine don't rub because the suspension is very stiff.

#3) does anybody actually know the 0-60 time on this car?? the best estimate i have is somewhere under 7.5 according to an original BMW ad promoting the new 535is back in the 80s, where it says "0-60 in under 7.5 seconds..." as part of the blurb. so does that mean 7.49 seconds or what?

Factory claims 0-60 in 7.4 seconds

#4) i'm sure i'll get all sorts of answers to this one, but can't hurt to ask.... given that i'm on a teenager only working part time, i'm rather strapped for cash.... so what would be the #1 best bang-for-buck upgrade can i make for handling? i have friends who say "sway bars are where it's at" whereas others say just blow all your cash on the tires... they all have valid points, but if i have a few hundred bucks, what should i actually spend it on?

Suspension upgrades are expensive, and must be done carefully, changing one componant will affect the others, so it is best to buy packages and follow the manufacture's suggestion unless you are fairly experiences. The best handling upgrade you can make is the driver, take your few hundred bucks, join the local chapter of BMW CCA, and do some driving schools. It will be the best bang for your buck you can get. Good luck with the car
Randy

please forgive any naivety or newbieness i'm displaying in regard to the workings of the forum, but i'm very eager to learn everything i can about cars, especially the 535is in particular... i can already say i honestly love my car, i can't imagine a luckier 17 year old guy the world. any help/advice is much much appreciated!

--ethan
87 535is 165k