Most of the posters on here are from North America where we didn't get the M57-equipped E53's, so most are unfamiliar with it. There are numerous oil threads on E70 forums, however, as we DID get those models equipped with the M57. You might want to check those out. I happen to have such a beast, so will throw out my thoughts.

I don't know what, if any, emissions systems you have in Cypress, but I presume you have the SCR catalyst system, but no DPF? Here in the U.S. ours are equipped with DPF's which require a low SAPS oil to minimize filter contamination. LL-04 addresses this need, so it's a good practice here to stick with LL-04 oils. If you don't have a DPF, then low SAPS isn't such an issue, so you're left with needing an oil that meets the other parameters of the specification.

There are 5W-40 oils that carry the LL-04 approval. I happen to use Motul X-Clean 5W-40 in mine because I tow a heavy trailer quite often. I believe that ESP Mobil1 is a very highly regarded oil, though, so I'm not sure why you're wanting to switch away from it?

AM.

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E70 2010 3.0 M57 AT Titanium Silver with Black Leather
E53 2004 3.0 M54 AT Toledo Blue with Gray Leather
E83 2008 3.0 N52 AT Silver Gray Metallic with Black Vinyl
E46 1999 2.8 M52TU 5MT Black with Tan Leather 250K+ miles (Sold, but not forgotten)