I read somewhere that you have to have a certain firmware version before going to the latest or downgrading and then upgrading will causes similar behaviour where only CD will be read. Do a search for upgrading procedure online. I did a quick search and I couldn't find it but I am pretty sure I read something like that.

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4.8is 2004 imola red
4.8is 2005 Black on Black - DINAN/2 sold
4.4 2004 X5
2003 330xi
2008 328xi - sold
4.4 2000 X5 - sold