Welcome to the .org Nick!
I am hardly a mechanic so I won't take a uneducated guess regarding the oil leak.
But I can say that if you have a m44 (1.9L 4 cylinder) you do not have Vanos. I had a pretty bad oil leak and it was the oil housing, as some members mentioned above me. Bimmerbum's post has all you need regarding that. Regarding the wheel wiggle, that could be weal bearing, but it seems slight, so it will need attention eventually. But your going to have to do more then that for it to break down on you, you won't have to worry about it falling off or anything that is specifically dangerous at this point.
