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I don't think you could trust a dealership to do that for you.
To truly "inspect" the Vanos, you would need to check the exhaust hub flanges and the infamous Vanos bolts. To do that, you would need to pull off the valve cover (so you're already at most of the work of a valve inspection), and then also pull of the Vanos unit. I have not personally pulled a vanos unit, but I think it takes another 2 or 3 hours to remove and reinstall AFTER you've covered the valve cover work.
At a dealer, I would expect to pay at least $1000 for that. If the dealers in your area have an especially high labor rate (here in LA its $175), make that areound $1300 or $1400. But again, very few dealers are going to have the caliber of mechanic who you can trust to inspect the Vanos and know how to spot any potential problems.
At an indy shop, I would expect to pay more like $500-$600. It needs to be a really good BMW specific indy shop, but I'm sure someone here on the forum can recommend one in your area.
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