BCM=Body Control Module. It is the computer that handles door locks, Passlock, radio, lights etc.
Your problem is likely not covered, but check with your dealer, and press them a little, since this is a very common GM issue.
Typical caused include worn keys, worn ignition cylinders, and sometimes BCM problems. Usually if the BCM is bad, you will have other symptoms as well as Passlock.
Some people have said that heavy keychains will trigger Passlock problems, as the ignition cylinder is very sensitive to the weight hanging from it.
I have used this fix:
http://www.automotiveforums.com/vbul...asslock+bypass
It only took about an hour, and has worked flawlessly for over a year now. It was not as hard as it sounds, either.
If you don't want to do that, try using your least worn key, sometimes that will work for a while. If that does work for you, get a few copies of the key made before you wear it down too far. Also, that is only a temporary fix, because eventually you will wear the cylinder down, and even a brand new key will not work. Disabling the system is the best way to go, in my opinion.
Here is some more info:
http://www.oldsmobileforum.com/forum...?TID=1225&PN=1
Hope this helps you.