I cant believe i found this thread... what a spin!
Northandy... mate i had the exact same prob. I tell you my story - bought my car June 04... Rallye Monte Carlo special. after 1 week of owning... i noticed the exact same noise in your description. I took it to a BMW dealership... one that i didnt buy car from just to get an opinion. So the typical thing happened when you take something back due to a technical fault... it wasnt very obvious and loud at the time. The tech said just keep driving it for a while and see how it goes. Anyway so over the next month or so this thing got louder. Took it my dealership... they diagnosed and it was the thrust or throw bearing i think they said. i'm not too tech savvy when it comes to cars... but it had something to do with the bearing that constantly spins and when you press clutch it engages. All front wheel drive cars do this exact same thing... but with this fault it becomes louder as the bearing is damaged. The final conclusion they said the gearbox will have to be replaced.. as its easier than changing bearing.
Got the car back... all fixed and well. They said the Bearing was split in half

scary stuff.
I must admit i spewed about this whole thing. I wrote a letter to Dr Franz Sauter and asked for a new car. he got one of his PA's to ring me and try and calm me down. I didnt back down. I said to her 'lets make a deal... i paid good cash for this car and i want a new car... not one with a gearbox that has been ripped out... if you think the car is good... you keep the car and give me a newy' he heh eh he h. Didnt work
But yes its all good now...
I also told her i should've bought the Renault Sport 182... cheap BMW product. LOL!
Mic