OK, I know it's too soon to say for sure! I just received the new issue of Roundel today, and I'm paging through. They are making a big deal about the new 7 in most of the magazine, but there is a little article on pg. 24, bottom of the page with the first official spy picture of the 5 Series being testing.
"A heavily disguised prototype of the all-new fifth generation (E60) 5 Series hit the Arctic roads in northern Europe during the winter's scarce daylight hours. The disguised prototype....reveals the wrapover trunk line which apparently is now....a traditional BMW design element....The new 5 series, set to launch in the second half of 2003....the first new BMW entirely concieved by Burkhard Goeschel, current head of BMW R&D.....
[here is the part that puts a glimmer in my eye]
Other details: Six speed automatic transmission from ZF; optional all wheel drive (xi models); 535i will be rated at 270 horsepower,
that's nice 
, 545i makes 330 [HP],
that's really nice too 
,
but the nicest thing of all is this:
430-plus-horsepower M5 expected to appear with Formula-1-inspired 5.0-liter V10 engine. !!!!!!!!!!!!!!
Please make this come true, I promise I'll be good mommy, I promise I promise. This would be the March issue of Roundel, pg. 24; one of these days I'm going to get a scanner so that I can scan these articles in for you.