I brought my car in to get the brake pads changed and the dealership told me I had a power steering leak and an engine valve leak.

I havent done much work on cars in my life, but am learning day by day I guess. I have read some posts on here about "stop gap"? What is this fluid? Does BMW recommend any particular power steering fluid?

Hi ! It is any Dexron III ATF fluid.

I am also learning about cars on a "as-needed" basis (whatever I have to fix to make it to work the next day..lol) I just rebuilt my power steering pump with a kit from www.pskits.com (http://www.pskits.com) and the seal kit was super cheap and they had an online diagram, I was able to do it in less than an hour. If you are going to rebuild your pump or power steering rack I would suggest taking a look on their site!!
-Gregg