Gents
The Bosch Alternator as fitted to M5 is completely serviceable.
As Ivan says, most require slip rings as these knock at least one tooth off
the brush cotacts.
Even with a diode failed, most of these units will crank 120 Amps on a
Alternator dyno, many see 140 Amp plus.
The replacement cost for a new unit is mostly down to a bespoke end casting, not the internal
serviceable items which are reasonable cost.
Regulators, slip rings & brushes are the main failure items.
The stator & individual diode within the pack can fail.
This is a rare occurance but is generally a driven failure not helped by a blocked intake cooling duct*
RealOEM.com BMW E34 M5 3.8 ALTERNATOR PARTS 140A
*Preventative maintenance :
I would advise keeping the cooling duct from the bumper bar to the alternator clear.
RealOEM.com BMW E34 M5 3.8 ALTERNATOR COOLING
If you remove the vertical plastic duct from the inlet volute on the back of the
alternator, you may also find leaves & debris build up.
The duct itself becomes brittle & fractures with age reducing cooling efficiency.
A replacement is £25 or so for the complete intake duct asy.
It's available Germany only so will take 5-7 working days on a VOR.
Stock order will take 12-15 working days as they tape the part to the
back of a snail.
Failing this, I can completely rebuild & test them for you if required.
Cheers
Farrell