Will not start.

Possible bled lifters, common in E39 M52 and M54 Hold your foot on the gas and crank for about 6 seconds, if a change in note or attempt to start is present, try again. If it starts it will smoke for a little while Otherwise check for spark by removing the plug, sticking it into the coil and earthing the threads on a metallic grounded component and check for spark while cranking. Hold you a screw driver on an injector and put your ear against the screw driver and listen for ticking while cranking, if it is clocking you can assume it firing the injectors, if not there is an issue with the DME. This is only a garden path towards a labyrinth of diagnosis paths for "no start" issues. Going any further requires proper mechanical experience. sorry