Yes - I've updated maps for both E53 and E46 (same nav system) over the years, with DVDs purchased online. I'm at 2015 Europe High now.
Only problem I once encountered is laser failure - there was a firmware update some time back to 'unlock' reading dual-layer DVDs and this can tip the laser over the edge as it strains to read the disk. Replacement laser fixed that, it's a quick and simple repair if the drive no longer reads.
Occasionally BMW in the UK offer cheap nav swap updates to deter people from looking online for cheaper (or free) alternatives.
We bought an E89 recently and insisted that the nav was updated. The later cars need a code to unlock the update, it's a pain compared to E53 era vehicles.