I drove that 733i today. The damn thing had no brakes. It had 200,000+ miles on it but drove great until it ran out of gas on me. I ended up walking back to this girl's house. Wouldn't you know it, they were doing construction on the road and I ended up walking back through the mud.
The outside of the car was in great shape. A small bit of surface rust on the bottom of the doors, but other than that, it was okay. The interior was relatively decent but messy. It needs a good cleaning and some leather treatment. The whole car needs to be cleaned inside and out and it would look ten times better. Couple of small problems... fuel gauge doesn't read right (probably why I ran out of gas) and something is draining the battery. And brakes. Definitely needs brakes.
Had a mechanic look at the car today. He said it was in good shape. The steering felt heavy, though, especially compared to my current car. This damn thing has a ton of idiot lights. There's a light for everything. At least the Germans organized them into a convenient block on the left side of the dashboard.
If it will pass an emissions test, I may buy it.
http://en.wikipedia.org/wiki/BMW_E23