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Well, from reading posts on this board for 3 years, here are my thoughts on what affects E39 M5 performance without other symptoms (rough idle, etc.), some of which you have already addressed:
1. Pre-cat O2 sensors
2. Plugs
3. MAFS
4. Air filters
5. Altitude
6. Hot weather
Although I may be mistaken, CPS failures usually cause symptoms.
Other members have reported subjective power gains by replacing O2 sensors before any codes are thrown.
I must say, however, that your car seems at bit young for many of these things. At over 50K miles, I have replaced one O2 sensor (code, no performance issues) but am still using the other original O2 sensors, CPS, and MAFS. I am considering replacing them as a prophylactic measure, but have not done so as the car is running great.
How about altitude issues (as compared to where you picked up the car) or heat?
__________________
Kevin
2002 M5, Sterling Gray/Caramel
2007 M Coupe, Silver/Black
1999 Mercedes ML320 (hauler...)
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