HELP - Reviving A Car That Has Been In Storage

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Salisbury, MD
Here's the deal, my sister has this car that's been in storage since '01 (or longer), that is, the registration on the plate expired in Oct '01.

It was in storage at her town home garage in Colorado and she brought it east three years ago where it's been sitting in a open garage. She said that after it was brought east it started right up, but it hasn't been run since. I would sincerely appreciate a few pointers on the best way to get this thing back on the road (she sold it to me for some money she owed me).

Also, what oil would you run in it. It's a 1997 BMW Z3 with the 1.9L four cylinder (yes, I know it's a poser car with only 138 hp). The car only has 12k miles. She said she enjoyed driving her jeep more. She said she took it for a dealer oil change every 3k miles but I checked and its low on oil
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So, post 'em up, what would you do with the little beastie?
 
The fuel is bad, by now. Empty and refill with fresh gas.
I'd change the oil and filter, and then yank the spark plugs and squirt oil or Marvel Mystery Oil in each cylinder. You probably need a new battery, as well.
Crank it over without the plugs in there, by hand, and then by the starter motor.
Install the plugs and start her up and drive it. I'd let it idle and warm up a good while before driving it, though, while listening and watching carefully. Keep an eye on the transmission, as well.
The tires are obvious, and may be dry rotted. At least check the pressures. The brakes may be rusted - especially exposed rotors. You may have to get new ones before driving.
 
Change all fluids and all filters (oil, gas and brake fluid are the important ones). New tires. New brake pads and rotors (if rusted bad). Check oil level on gear box and differential.
 
Pump out the gas, put 2 gallons of shell vpower in the tank with 4 ounces of MMO. Put 1 qt of MMO in the crancase. Pull the plugs and squirt a little MOO in each hole. Leave the plugs out and crank the motor on/off for about 3-4 minutes to pre oil the engine. Reinstall the plugs and try starting that sucker. Air the tires, spray the brake rotors with some brakekleen if rusty and drive it home. Leave the critter nests in place as it makes for a more exciting first ride if you have multiple occupants.
 
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