Can't hurt. I hope there aren't too many people that still think redlining on occasion is bad for the motor, because that's not true provided the motor is sufficiently warmed up.

I love hitting the kickdown on the X3 once every few weeks. The engine sounds incredible when you're nailing it. I drive fairly often on one-lane country roads, and when I overtake, I always imagine the face of the shocked Virginian hearing my (frankly really) loud stock exhaust. And the best thing about it is you can do so in the X3 3 times without going faster than 85mph.