You cannot legally bring a Euro Spec car into the US and title and register it. It is possible to import one for off road use. You can have a Euro Spec car converted to US specs, and import it, but I promise you that you will spend more having it converted than it would cost to buy a US spec car in the US, buy a Euro Spec car in Europe, strip whatever it is you want off the Euro car, ship the parts to the states, and convert your US spec car to Euro Spec.

I was a teenager who learned to drive in Germany, I had the same thought you are having now.

That is correct.
I have been importing and exporting cars for a while now, and there are more than a few serviceman who have imported newer cars.
The last one I dealt with was a 1999 Subaru STi V.10.

It can be done, but not cheaply or legally if you wish to drive it like a regular car here.

And, with mid-90s BMW 5-series (both E34 and E39) being as cheap as they are, why bother?