I have driven and loved BMWs for 20 years. I have owned 9. There are more irritants on the X5 then any previous BMW. The X5 4.8 is 11 months old with 12,000 miles.

-Electronic shifter, shifts back to Park if you open the door when backing up and looking back to see. Yes I have the camera but sometimes you need to open the door to see. I don't want electronic Nannies!
-iDrive hate it hate it hate it, way too many inputs to get to simple needs. I will never buy another BMW with it. I may have to move to Porsche or Audi in the future.
-Run Flats, they are tires from my tricycle.
-Start button, give me an old fashioned key much simpler and everything happens in one step.
-CD player in glove box, can't put much in the glove box with out blocking it.
-Throttle/motor acceleration is not smooth. It is better when Transmission is in DS mode, but still not great. Guest in my car think I am trying to showoff, I cannot accelerate smoothly. They need to re-map the fuel injection. (any one know someone who can do this?)
-Warning beep for safety belt never stops.
-Gas mileage is horrible. My 6.0 Denali was 30% better. 12 in town vs 16 mpg. Dealer said it would improve.......No it hasn't.
-Plastic parts keep breaking, both visors, heater vent controls, buttons
-did I mention iDrive?.....which encompasses about 100+ things.
-Center console difficult to open, I have learned how but my wife still struggles.
-Sunroof is too complicated, in order to get it all the way open you have to press it far too many times.
-Brakes! the feel is poor and the power assist is toooo much initially. Very little pressure creates significant braking. If I am not careful friends heads are bobbing back and forth. Toooo sensitive. Hard to modulate.
-Steering a touch too heavy and dull.

I could live with this car for a long time if they fixed my three biggest complaints:
1. Dump iDrive
2. Re-map acceleration/Fuel injection/Throttle
3. Fix Brake modulation control.

The above issues should not be part of the ultimate driving machine.