Seems a success so far. Fitted a new Meyle tank, OEM BMW thermostat which turned out to be a Behr (once removed I found that the existing one was a Behr as well), and Comma G48 Xstream coolant.
The old coolant was a dirty brown colour and had obviously not been changed in quite some time. I used the wet vac to suck out as much of the old coolant as possible. The thermostat seal was slightly melted at the bottom and may have been leaking, but I cannot confirm this. The tank was an original 2003 and 'looks' in tact, other than the broken level stick.
Whilst pouring in the fresh coolant, (6 litres in total), I had the zed up on jack stands with the bleed valve removed, engine on, heater on max temp on the slowest setting and revved it up once at temperature. Presumably this was the correct procedure?
I went for an hour's drive afterwards and the temperature gauge did not budge off middle. I wasn't sure what to do with the heater settings during this so I moved them around. Could someone confirm what the correct process should have been?
This morning, the coolant level was ever so slightly lower, but no sign of any leaks. I removed the bleed screw before topping up the tank. However, the moment I removed the bleed screw, air rushed into the tank and the coolant level returned to max. Should I have not removed the bleed screw before topping up with coolant? Anything I should do now to make sure there are no air blockages?