The dealer (an actual BMW dealer in NJ) will be getting back to me tomorrow, hopefully that they will correct the mileage with the NJ DMV and forward the required docs to the NY DMV.

Dig, you are 100% correct with everything you stated. Ard, I will definitely report back. I'm prepared to go to war to rectify this. Thank you guys for the info and support.

This purchase has been painful since I made it in July, but taking the E70 for a spin alleviates the pain, somewhat.