probably not a bad plan. Good color choice
the only thing that I would suggest is the rear air suspension. Mine has been great. But if you don't plan on offroading it that hardcore, it would be fine without it. I'm personally more of a buy it exactly how you want it guy, but if you are a do it yourselfer, then go for it, it sounds like a good deal.
'03 H2 Sunset Orange No mods
'03 BMW M3 Convertible
'02 BMW M5