PROBLEM SORTED! (Touch wood)
Got it back from the mechanic today, costed me £500, drove it on the moterway, went upto 130mph an no problem at all, didnt have no sudden power loss or any lights appearing on the dash.
The car also feels much responsive at normal speeds on the road.
I think next i am going to completly clean out the engine, give it a good service and i also want to get into the egr an give that a good clean.
If anyone has any links on diy guides on how to access the egr valve for the e92 please would you be so kind to post for me, i know its not easy as the manifold has to be removed.