I have 5 BMWs and the oldest one is over 20 years old.... More reliable than my mom's Audi A4 a million times....!!!
BMWs are good car as long as they made in Germany. E46 4 doors, E9x 4 doors/wagon/coupe (except M3s) are NOT... They're all from South Africa....
My suggestion to you, Rather find a E39 525/530 (not V8 540) Very good car for daily use. I had a 2001 525i M sport running on 17" stock wheels, around 2.3-2.5/km.
Although IS200s are good car BUT as if you don't expect much from the performance side.. ESPECIALLY AUTOMATIC TRANSMISSION.... Slower than Crown Comforts....
Good luck!