How To Replace A BMW S54 Valve Cover Gasket (BMW E46 M3, Z3M, & Z4M) ↗
Removing and refitting the S54 cylinder-head cover with new gaskets and grommets, which is also how you get in for the 30k-mile valve adjustment. Rated easy-to-moderate at about 2-3 hours.
Tools mentioned: Metric sockets, Torx bits, torque wrench, micrometer (for valve check)