indeed, replace the bulbs in pairs.
for wheel hubs, get SKF or FAG, may as well get new lug nuts while you are at it, and dont forget the interior and exterior dust caps and the giant nut.
plugs: i love my denso iridium plugs, they are expensive, buy i think they are worth it (and they last a long ass time too)
belts, contitech, really easy
fluids, a 0W40 or 5W40 HD oil is good for the M60, but do a thread search regarding the pump bolts before you start. M1 doesnt feel good, but lubro-moly and redline make the engine sound a lot nicer (all the moly!)
coolant: the SAAB dealer sells the same coolant as BMW, but for about $7 less per gallon.
transmission, go with Redline for whatever is supposed to be in there
diff fluid, Redline or Lubro-Moly gear oil
power steering fluid, whatever it says on the cap, probably CHF-11s hydraulic fluid
for various filter, go with OEM (mahle and mann) unless you want a performance air filter, then anything but K&N (the oil messes with the MAF sensor). ITG is a good choice.
if you are doing the wheel hubs for sure, consider new rotors, since they probably have lots of rust where they meet the hub.
Alusil, Dinan DME | ITG Air Filter | Eibach/Bilstein HD | 26/20 Swaybars | Iridium plugs | Depo/ProLumen HID | Optima batt. | no AC | Stoptech brake lines, Frozen rotors, brass bushings, Superblue