2006 4.4
Sport Package
Premium Package
Rear Climate Package
Cold Weather Package
NAV
Lease return according to Carfax
20,500 miles (I, too, was looking for 40K or under)
Asking $36,995
Paid $34,995

It seemed like a very good deal to me. But, I see many posts talking about the low 30's. I also found the ranges to vary depending on if it is being sold by a BMW dealer or other, i.e. the dealer range seemed very tight at least in the Los Angeles market.