I have been looking e60 m5s myself, but then looked more closely at the M6 aswell, its smaller, lighter and has a carbon fibre roof.
I can get a 2006 M6 with 70k on for about £14.5k so have been tempted since they are alot more modern, my concern is if i have a gearbox issue as im a trader so cant just send it to bmw under warranty and might end up with a £3k or something scary.
Least with a e39 m5 you can pretty much fix everything that can go wrong as they arnt all that complex