I went through the same logic as yourself no problem when cold, just hot. When cold the system enriches the the mixture enough that it starts(ps there is no cold start valve on this version of motronic). BMW have an inexpensive kit( this is a fairly common problem) that places a new check valve inline at the fuel outlet from the gas tank inside your trunk, no need to remove the pump assembly. It took me about 10 minutes to istall and problem solved!