I'm in the Process of replacing my Clutch.
If when you throttle down and the engine REVS while the car is not picking up, or you feel a SLIP when you throttle, then, IT'S TIME FOR A NEW CLUTCH. It's hard to explain. But believe me, if you will know if the clutch is going bad.
On my 01' 330CI, the Dealership tells me that it will cost $1,800 to replace the entire clutch. This includes, the clutch Flywheel, the clutch Kit and labor ($900).
It cost so much because they have to take down the transmission to get to the clutch. Labor is about 8-9hrs.