I'm not a Toyota fan, really don't like the way they drive. So that leaves the Lexus out. Also don't like their interiors. I could do an Infiniti, but I didn't find a single M45 with a manual for sale. I thought they sold them that way, but could be wrong.
Despite popular belief, I did actually search around to see what the cars cost in the mileage range I want before making my initial post.
In the luxury car realm, you always have a subset of people who buy these sorts of cars and then use them as Sunday drivers rather than daily drivers. Back in '06 I bought a '92 XJS V12 5-speed (the 5-speed was a conversion that I had done previously) with under 50k on the odometer.
Not particularly interested in an E39. I like variety in the fleet, and we already have an E38. Plus, like I said, an E39 blows the budget to get an M5, which is what I'd want if I got an E39. I think one of the issues with the Z4 is that I didn't get an M roadster, which I think I would've been happier with.
I was a Jaguar mechanic in college and saw the whole range of cars. Some with 200k and some with 20k, for the same model year. Engine and transmission reliability was typically pretty similar, although XJRs had transmissions regularly go out at about 100k unless you changed the fluid ("Sealed for life" means "Sealed until it explodes, which will happen sooner because we never tell you to change it"). What you really noticed with the higher mile examples were interiors that were more worn out, especially the driver's seat and various buttons. You also would tend to have more little issues go wrong, and some of these engines also have significant items that need attention. For example, the timing chain guides tend to go out on the M62 engine in the E38, and they have the same issue on the XJR's 4.0L V8. That's a big job to do, and is almost entirely based on mileage, rather than years.
Rachel, the S62 in your M5 also has its share of higher mileage issues - rod bearings being one, but I'd also look into issues with the timing chain guides and the VANOS solenoids. I know that those can be issues on the M62tu.
Some things go out based on age, others based on miles. Yes, cars last a long time, and I am perfectly capable of doing my own work. Summer of 2014 I did the timing chains, guides, tensioner, water pump, hoses, valley pan, intake gaskets, etc. on Laurie's E38. It was around $1,500ish worth of parts, free labor (me). Also rebuilt the suspension (that's another weak point on the E38/E39), which was around another $1k. If we'd bought a lower mile example (bought it with 142k), I could have at least deferred that work for a while.