I have about 45K miles on the car and the eep_2 error shows up, gas, temp, and rpm gauge do not work, neither does the speedometer Where can I get this fix for a decent price? Everywhere I have asked wants $1,200-$1,500
Well that sounds like a problem! I haven't heard about that one before. Have you tried asking for help over here? http://forums.bimmerforums.com/forum/forumdisplay.php?f=137
Might also look here, even though I have never heard of your issues. http://www.waycoolinc.com/z3/essentials/fixit/index.html
There is a section of harness behind the cluster that potentially can rub on one of the supports behind the dash and cause all sorts of anomalies. There is actually a service bulletin from BMW to that effect but don't have time to look it up at this time. If this is outside of what you are comfortable doing try www.bimrs.org for qualified specialized BMW independent that could diagnose/fix.
I may have found the solution to your problem for you http://forums.bimmerforums.com/forum/showthread.php?t=1350784 According to the link, it indicates a faulty oil sensor as the problem. Try it. Hope it works for you. Thank you lcjhnsn for that link.
I have the same issue I've done a lot of research and have never been able to find an answer. I have narrowed it down to either the coding plug or the instrument cluster. Since a new coding plug is a fraction of the cost of the replacing the instrument cluster. I thought that I would try replacing that first. I am waiting for the part to arrive. Since the Coding plug has to be ordered specifically for your VIN, it has to come direct from Germany. So, getting one takes a few weeks. I'll keep you posted on progress.