I have an 18 month old Cooper (in the UK). Today I noticed that the foam
> like material under the bonnet grilles/vents has holes in it mainly on one
> side of the car.
There was a recall for replacement of the foam material a few months ago. Well, I say 'recall' - I don't know if an actual recall notice was issued, but when my Mini went in on a totally unrelated matter the dealer pointed out that they'd replaced the insulating material and that they were doing this for all Minis on instruction from BMW.
Cheers, Ian