Looks like for e70 you need BMW scanner 2.1.
B147 OBD II OBD2 BMW Dash Scanner 3 in 1DIAGNOSTIC BMW Scanner V2 1 V2 01 V1 4 0 | eBay
It is less than that scanner you are showing, of course you need a laptop to use it.
I can say 1.4 works great on my e53.