First off, let me say "I AM VERY JEALOUS!", lol. Seriously, though, a 1995 E34 540i M-Sport? One of my favorite BMW's of all-time (non-M), and I had one literally slip through my fingers just two years ago...
(told the dealership I'd be back the next day with cash for it, they said they'd hold it.. showed up at 1:00PM, cash literally in hand, and I watched someone else drive off the lot with it; same thing had happened about two weeks before with a 2003 E39 540i M-Sport... argh). I love, love, love those cars! It sounds like you're treating her well, and I hope you continue to have many decades of enjoyment with that beautiful automobile!
In regards to fluids, based on your criteria, as well as considering that one of the cars in question is a limited-edition car that will absolutely benefit from the highest-quality fluids possible (1/500 in NA, yes?).... I would recommend using Redline 5w40 or 10w50 in the 540 (I personally think the lighter 5w40, which with Redline is already very "heavy" for its weight, is the best choice), a lighter 5w30 in the 318, and 5w30-40 in the 740.
Redline, being a Group V oil, will absolutely give you the extended drain intervals you would like, but without any sacrifice in reliability or engine wear. It is one of two oils that I run, without question, for over 5k in my applications. I would be willing to bet that after a few OCI's with Redline in your engine, you could take the valve covers off and everything would look shiny-new.
Royal Purple is the other of the two oils that I trust, and it is also more easily available (locally, I mean). However, I have not used the new stuff, only the bottles that have "with SYNERLAC!" on them. I run RP for 2/3 OCI's and Redline for the other 1/3, and it has cleaned up sludge and varnish left behind on all 3 of my Bimmers from the previous owners' use of BMW Synthetic and German Castrol (on my 328Ci, this sludge/varnish had developed within 40k miles! It was cleaned out in 1/4 as many, and by the time I opened the engine for the new cams/valvetrain/rods/etc prior to the S/C install, it was practically sparkling!).
In my 328Ci and 325i, I run 5w30 and 5w40, while in my '98 740i Sport (4.4 V8, thus an M62TU engine) I typically run 5w40 year-round. This is in southern Ohio, so weather is not terribly different, although we do see less snow than you and the temperature scale would be shifted a few degrees (typical summer day is 85-95*F, this winter it's been around 35-40*F but as low as 10*F at night). The "new" Royal Purple HPS oil is, from what I understand, the "old" "regular" RP "with Synerlac" oil, just rebottled and sold so that the regular stuff can meet the newer specifications. I wouldn't hesitate for a second to recommend either RP or RL to ANY BMW owner, based not only on my experience, but also on many cars I have worked on (friends, family, and friends-of-friends via word-of-mouth) and driven.
I am not a fanboy, I just have had great luck with the fluids, and I think they are worth a shot for anyone. You have a "boutique" car, I'd say it deserves "boutique" oil!
Happy New Year!
nleksan