So, after a little more reading (and finding I don't have a cold start valve) I decided it'd be a good idea to clean my idle control valve. It wasn't too dirty, but did have some pretty solid/sticky buildup on the valve door. After a pretty thorough cleaning and drying I popped it back in and no more starting issues (damn near perfect idle too)!
I figured it may have been due to the ICV still bein warm from the drying (hot air) so the real test would be this morning when I got up... same thing, perfect start! Also, I decided (for giggles) to get on her on the way home to see if for some reason the clean ICV had any affect on the check engine/oil light issue. Sure enough, I haven't come across it yet. My theory is the ICV was sticking causing the car to die when cold (gunk would be cold and not allow ICV to open/close as needed), and for the same reason cause issues when coming down from a high rpm.
I'm running some seafom through the fuel right now, and will put a little in my oil when I do the service this weekend (and a little through my intake as well). I get to have the engine professionally cleaned for free... hopefully I'll be able to locate the minor oil leak I have and fix it.
On another note, I finally got my amp and subs installed (pictures soon) - just need my backup power source (1200w of bass). I never knew how sound proof BMWs were until now - I can have the system runnin high and hardly hear anything outside.