I have two '97 328s - a 5 sp and an automatic. I really like them.
The one you describe would not appeal to me because I don't like lowered e36s, and it does have some potentially annoying problems. Also, I don't know if I would buy another e36 now. They are getting old enough that rubber parts are starting to get brittle and fail with great frequency. Seems like every time my kids come home from college I am putting some rubber or plastic part on these cars. But, if you like it and the price is right....
With the dash, cleaning connections may help, but be prepared to go for a junkyard dash cluster eventually.
Climate control problems are common, but the exact symptom you describe is not common. The usual fix is described here on my web page, but I am not certain that this will fix yours.
If you have both the ABS and ASC lights on, the wheel bearing could be your problem. These two systems share the speed sensors at the wheels, so if one of the reluctor wheels is wobbling, it might trip both systems up. When you do the wheel bearing, examine all four sensors and their leads looking for damage. The good news is that both the ABS and ASC systems reset themselves after you fix the problem. You don't need a scanner to reset the light.