Hello B2BW, when BMW say Life time they mean around 3 - 5 years or typical life time of first ownership. I would change the oil, you need to use Redline D4 ATF in a manual gear box. High emissions will be partly due to your rattling cat and also the lambda sensor will need changing due to age and probably miles, cat you can get for £100, lambda fit only Bosch genuine replacement. For the exhaust I recommend the Cobra cat back stainless, certainly growls.