hi ,man,i also recommed you get a foxwell nt510,and it only for 179$ on http://www.foxwelltool.com/,it works well on bmw.
Played around on my BMW E70 for a bit, covers ABS, Airbag, Electronic Parking Brake, some EWS/CAS, Active Suspension, Service Resets for $179.
ON my E70 I have use Foxwell...