Nice detail. It's made of plastic rather than cast aluminum, but that doesn't mean it's any worse. BMW has been successfully using plastic components for two decades. I would recommend two things: if you need to replace the thermostat, you should also replace the electronic water pump. Both tend to wear out at about the same time, and you don't have to install them more than once in the ridiculously tight space they're designed for. There are some good DIY materials on the internet (e90post.com, bimmerfest, etc.). Check them out before you dive.
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