Have a 2002 Z3 (auto) with 14K miles. When I put the car in reverse many times it does not engage for a few seconds. Other than that it works fine (shifts smoothly with no noises). I have had the fluid changed a few years ago and did not notice any change. Has anyone experienced similar transmission issues?
This is issues a lot of people have had with the GM5 transmissions. From my understanding BMW had a SIB for the e46, e53 to change some programming numbers to help with this pressure build up delay causing the delayed shift. Don't know if this will apply to your vehicle but it sounds just like that. Also make sure your transmission has no fluid leaks and the fluid is completely full.