This does, indeed, sound like a brake booster problem. I just had to replace mine about a month ago and the symptoms were similar. Although my brake light was not coming on, I was leaking power steering fluid, but not under the steering pump. The leak was further back. Anyway, I took my M5 to a local BMW mechanic and he diagnosed the problem as the brake booster. He replaced the booster (an expensive (~$275) part!) and the leak has disappeared. my m5 brake light turned on the other day. it would then blink as i pressed the brake or turn the wheel. i checked the power steering fluid and it was low. after adding the light has not turned on. but it still leaks untill the resevoir is completely empty. underneath the car, it looks like it is leaking over the tie rods, control arms, and so on. which is weird that it is not under the steering pump. is this my brake booster that is bad and not the pump. i cant try the car because of the problem. want to resolve by this weekend.
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