My first car was a E46 316i, under 100tkm on odo, had it for 3 years, literally gave no problems.
Sold the E46 and got a E39 530D because I love them. Has been reliable so far, I've had it as daily for almost a year now and the only critical problems it has had are that the alternator gave out after a couple of weeks owning and EGR thermostat was bad.