I had the identical issue with replica rims on my E53. Balanced more than 1/2 dozen times and still a horrible ride. In my case my rims were 20" not 22" but the bigger the rim the more noticeable the wobble will be.

My problem was that the hub on my rims was cut 1.4 millimeters wider than what the manufacturer advertised. This caused my wheels to not be hub-centric when mounted and the results were horrendous.

I measured the wheels hub diameter then ordered reduction rings to compensate for the difference between the wheel and the actual spindle it mounts too (I ordered aluminum rings from http://www.1010tires.com). The ride was wonderful after the rings were put on. You will likely need the 74.1mm --> 72.56mm rings.

Make sure you take both measurements with a DIGITAL caliper.

Good luck!