I had this in one of my E53's... just a rolling cargo floor...You could lift it up and prop it up with am included rod to access spare tire, etc. Becasue it sat higher than the stock floor, it reduced cargo space a little.
The cargo floor rolled on steel runners so if you did remove the cargo floor it would look like something is missing. I seem to recall that installing it in an E53 that did not come with it may have included a few extra trim pieces, but I don't remember for sure.
The E39 touring had the same option available.