Welcome to the world of L322!
I can't say I have experienced the previous two versions of Range Rover although I started out looking for a Classic but couldn't find a decent one for under £5k (they were either rubbish chassis, good body or vice versa!). Then I considered a P38 but was warned off by an Indy so ended up getting an early L322 like yourself. I don't think there is such a thing as an L322 that is problem free, after all they are Land Rovers
Anyway back to the plot:
1) The air suspension works how you describe, solid light for the current mode then flashing light for the selected height which goes solid when reached. Raising to off road height can take over minute, it shouldn't take more than 2-3 mins (it depends on what the height has been calibrated to and pump efficiency etc.). If it's taking longer it could be a pump or an air leak somewhere, you can have a leaking airbag and still raise it but slowly, mine would sit at standard height all day long but a split in the air bag opened up when going into off road height. There are also the height sensors and valves to consider. Have you tried lowering it into access mode from standard height then trying raising it?
The pump will pump up a reservoir and it's the reservoir that provides the initial change, the pump won't kick in straight away but it should be fairly quick to come in. The pump will kick in to top up the reservoir and provide direct lift.
You can rebuild the pump, I did mine with kit from a guy on here who had access to Wabco factory parts. That did include a new cylinder head so bit more pricey than just the £20 piston rings on ebay but still £200 less than a new unit.
Anyway just try letting it get up to off road height before condemning anything.
2) I would check the mechanism before condemning the C/L motor, a link is probably more likely to have popped off. Does it lock off the remote/dash button? Incidentally to save a lot of hassle later on make sure your drivers door unlocks with the key in the door. Simple fix if it doesn't but a pain if your remote dies and you can't get in.
3) The steering column automatic movement on entry/exit (Easy Access) can be turned off using a diagnostic tool such as the IID tool or a dealer can do it for you. It still keeps the normal adjustment via the stalk. I turned mine off as I didn't want it failing and getting stuck in some stupid position, they tend to be prone for little plastic stops/bits breaking and sticking at maximum adjustment ranges.
4) I've done the pixel repair on mine, a bit of a long process and not for the faint hearted but all working now. I bought a new ribbon cable from www.akspeedo.com , £18. They can also do the repair for you.
5) VANOS rattle etc etc. I'm just going through the same thing on mine although mine has a knocking noise which I've hopefully narrowed down to the timing chain guides, a known issue on the BMW M62 engine. I also have the VANOS rattle (two separate issues) on start up on occasion, this is different to the timing chain noise and is a classic noise you know if you've experienced other BMW's.
As a hopeful quick fix to my chain noise I installed a new main timing chain tensioner a few weeks ago, made no difference to mine but for the sake of £45 was worth a try. If you want to try it on yours then you're in luck: http://www.fullfatrr.com/forum/topic25536.html bargain at £30 and is the correct part (appeared a week after I bought mine...damn!). You also need a new crush washer on the outside. Check out youtube for M62 timing chain tensioner swap for details on changing, on the L322 you just need to remove the MAF and intake pipe to help get access.
The new tensioners are a different design with a longer but weaker spring, possibly to help out with the plastic timing chain guide issue.
VANOS rattle can sometimes be quietened down with changing the oil, which is what you've tried. If that doesn't work then you can either just live with it (doesn't hurt) or fix it. Fixing it permanently means replacing the VANOS gears (about £600-800 each I think!) or you can rebuild them with a kit from Besian Systems in the US. The kit includes redesigned and replacement seals as it's the worn seals inside the gears that often cause the rattle (slop). There are a few other things that can contribute to the VANOS noise such as the oil check valves but as all the bits that can cause the noise are in the same rough location its worth changing the whole lot in one go. I have a kit coming from Besian and plan to rebuild mine plus redo the timing chain guides. It's not an easy job to either as you need special tools to set up the timing and I believe dealers quote 40 hours to do the timing chain guides although a lot of people who have done it suspect it must include lots of tea breaks!
So in short if you can live with the VANOS noise do so. A new timing chain tensioner will not stop VANOS noise, it's a different issue.
6) Could well be a faulty Park Inhibitor Switch which is the same as what you call the xyz switch. I would get the fault codes read and if it points to the switch then get the switch tested using RRPhil's guide, http://www.fullfatrr.com/forum/topic25761.html . Its a sealed unit (riveted so might be able to 'recon' with cleaner) and are not cheap, ask me how I know The contact track wears out and they can suffer water damage so I went for a new unit instead of an unknown condition/age 2nd hand unit off ebay.
7) Not sure on service intervals on fluids, Wiki might have it, if not then the Wiki has workshop manual link which will have it. Any vehicle new to me gets them all changed anyway then I know it's done. Transfer box fluid is special, Castrol BOT 26 FMB1 (STC4861) or buy it as Special Transfer Box fluid from LR for twice the price.
Not bad, 6 out of the 7 are problems/fixes I've had or done! What do I win?
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