That looks the right amount of low to add. Some of those pictures almost look like the rear wheels poke a bit though, is it like that in person too? It might just look like that in pictures because there is still a lot of wheel gap there, even when lowered with spacers.
I could never let a 4.6is get parted. I mean, maybe if Danny promised to turn his wagon into a faithful Alpina B10 V8 clone... but I don't think he would have done that... he would have just put on a few bolt-ons to make 1more whp than a stock M5 then get an LOLM5 license plate. Probably.
It is even more substantial in person. The inner and outer lights changed, same visual difference as pre-facelift E39 vs. facelift E39 tail lights (only without the LED bars). My girlfriend said she didn't notice any difference other than one was more clear... I said that's kinda the point!

Amber facelift tails will be here today... will snap some pictures once those are installed
Door handle, seat memory module and driver's door wood trim are on their way. It's pretty weird I couldn't find a single driver's door trim without cracks... plenty of dash and even passenger trims without cracks. Settled for one with a single crack, compared to the spider web of cracks on the current piece.