Of course. That is a common problem. The sensor is right there between the back of the VANOS solenoid and the head. Remove oil filter lid to give a little extra working room. Loosen it first to let the oil drain before pulling it off or there will be a mess. Remove VANOS actuation solenoid to get the sensor out (32mm wrench or a pair of channelocks.) 5mm allen bolt releases the sensor. Remove airbox to get to the plug under the intake (you may need to remove the upper intake boot or at least move it out of the way.) It plugs in a pretty convenient location on those cars. I believe it is near the bottom of the plastic box with all the wire connectors on it. Buy OE BMW ONLY or regret it. I can do one in about 20 minutes (but I have done many.) You can surely do one in under an hour.
I ordered the part from bavauto for about $64 with shipping. My mechanic is going to do it when the part arrives by tomorrow.
