We did this in my Father in laws 92 320i, it looks pretty good, the lighter dash and doors really provide nice contrast, we did change out the seatbelts too. the tan ones looked pretty bad in there.
and hey, its a free interior!

__________________
2003 X5 3.0i (02/2003) sport package, Sapphire black metallic / Black Dakota Sport seats. compass mirror retrofit, trailer hitch retrofit, Prodigy P2 trailer brake controller installed, PDC retrofit, Lumbar support retrofit. heated rear seats retrofitted. Running boards retrofitted and subwoofer install in progress. 4.8is Brakes installed front and back. Bluetooth TCU installed, Rear Fog lights installed. Retrofitted reclining rear seat backs.