Bought myself a daily today

[RAArmstrong]

Never seen it dry on any car before.... :thinking:

 

[Gizmo]

Part number 3 is the splash cover on the M40 and will keep it rather clean, perhaps the PO replaced the gasket and gave the tappet cover a good clean?
http://realoem.com/bmw/showparts.do?model=CA12&mospid=47434&btnr=11_0179&hg=11&fg=15