Yes, but that is still just the basic I believe. The ConnectedDrive "full-control" version of the iPhone 4 adapter won't be out until mid summer... or so I was told by BMW parts (Germany). I think the "Basic" version does not fully interact with BMW's ConnectedDrive/iDrive system.

However, if this is indeed the full version, then I hope someone who buys it will please post some feedback about it after installation.