My wifes car wouldn't start yesterday. No codes, turned over fine, just wouldn't start. About a year ago my other E34 had a noisy fuel pump so I changed it out, but when I changed it I kept the old fuel pump since it was still working when I took it out. Sure enough...
When the key is in pos. 2 you should be able to hear the fuel pump in the trunk or right rear wheel well. A normal pump will make a quiet but obvious "buzz".
FWIW