Hi Kevin,
Yes, I am good to go!

I am still going to switch to a CCD camera as opposed to the supplied CMOS camera supplied by Eonon. CCD is reported to have less interference than CMOS and I do get a slight amount of interference with the engine running on the CMOS unit.
The Eonon supplied camera is mounted just above my Class III receiver.
The relay I used was just a simple $7 four terminal relay from AutoZone in their electrical section.
Part Number: N005W
Blazer Relay and Resistors N005W - Read Reviews on Blazer #N005W
Hope this helps everyone hooking up a rear camera to an E53.
This is the CCD camera I am planning to install soon
and here is an eBay link for it
Chetoo CCD Car Backup View Camera,Waterproof High Definition Color Wide Viewing | eBay
My CCD selection will mount identical to this one which died due to infant mortality
I will be doing some black paint over the bolt heads to make them less obvious. Your mounting methods may vary.
Mike