and the engine will run without a EWS signal?
At the e38 the engine will only turn without an ignition spark, so you need the ews module and the right key there.
I think the cableform, from the e38 will be the easiest way to run the engine and use the most of the funktions from that car.
The BC will also run, you need only some resistors.
In fact, the ABS and speedo ist the greatest challenge.
You need the same signals like the e38 or you can code the control boxes with the e23/24 signal.
Don´t know which is the better choice...