Just finished new inner and outer tie rods and center link on my 540. Piece of cake if you have the correct tools, 2 hours of time. I didn't take pictures, but can help if someone is doing this job.
If you have an E39 540, I would recommend doing this with upper and lower control arms, sway bar links, and new bushings for the sway bar. It would be a good 4 hours of time, but not too bad. Then I would recommend an alignment ASAP.