Previous to the OBD II engine control management, you used to able to install a chip to remap the engine computer to change the parameter to give the engine a more aggressive engine map that would push out the last few HP from the car. Today, you mush "flash" the computer to remap the engine computer, but on the E70, I don't think anyone makes any software yet.

I had the Dinan engine programming and transmission programming on my E53 and I can say it did make a difference and made it feel like a totally different car. It was much more peppy off the line and I actually got better gas mileage after programming.

I'm hoping on the BMW tuners will have some software soon.