Speaking of oxygen sensors, Im working on Zama's e46 m3 build date 2002/7 and at some stage the car had its cats deleted along with the post cat O2 sensors, the exhaust gas temp sensor was broken too (now replaced). The pre cat O2 sensors are still there and the car throws no yellow light. On diagnostic it said post cat sensors not plugged in, duh. Along with exhaust gas temp sensor, someone had bent the sensor and snapped the inner piece off and it was rattling in its cage! Would the missing post cat sensors affect the performance and be the reason for the car saying 3.7lt/100km constantly? Also cruise control ain't working.
My guess is exhaust guys started removing the exhaust without plugging out the exhaust gas temp sensor, just as they start dropping it down they realise its still connected by the sensor, lets hold it while they scratch around for a 17 spanner, they get the sensor loosened and while its being pulled out, the guy holding the exhaust gets tired and drops it a little and bends/breaks the sensor, Eish!! Don't let boss see!