Buying a '01 530i- How's this engine?

Picking it up on Monday. Sport and Premium packages with a stick.

I've had my 525 forever and love the good ol' M50 engine. Does the 3.0 share the same block with a different head? Any chronic problems with this model/ year?

TIA

The 2001 3.0 engine is indeed derived from the M50, it is actually named M54 and is a fantastic engine.

Thanks!
I've had it for almost a week now, and all I can say is "WOW!".

I've had 2 cars with that engine....both have been great. No problems with either car.