Three BMWs, with three leather steering wheels, each with varying degrees of oils absorbed into them. The X5's wheel, in about year 3, started to show some shininess to it. Here it is 11 years, and its reeeeaalllly shiny. I've tried everything over the years; Spinnybeck's cleaner, BMWs, Lexol, Meguiars, bla bla... include them all here ____. The only product that made a remote slight difference was a carpet cleaning product called, "Just in Time", which, I highly recommend for carpets btw. Miracle product there. But even it just 'tinged' the wheel a bit.
Then last month I started searching forums for hints at anything. I found this one below. Mr Clean Magic Eraser. Target. $3.65. Clearly there were some posters going after this, saying don't do it. The OP felt he had nothing to lose (check out the before pics.. oye!), and he went for it. Now check out is 'after' pics.
I was shocked. I went out and bought this product Friday. I just now came in from the garage after having done both the X5 steering wheel and the Z3 Roadster. Both... look brand new. Factory. Not shitting you. They came out just like this other gent's pics. Astonishing. I put some leather conditioner on afterwards. They look just amazing. I also did my shiny impossible to clean for 10 years Z3 vinyl door handles. ... brand new. Not kidding. I did my wifes shined-out black leather seats (Which I had custom done in Nappa leather 8 years ago).. totally like new. Freaking impossible.
Then I researched the product for chemicals (I know.. wrong order TurnAround. Do it before using it!). That's not how it works. Its micro melamine fibers. Basically, is 5 billion grit sand paper. It pulls things like hand oils out of leather.. no problem.
Here's the e46 forum link. Sorry, no pics from my X5 (just got dark here at 5:25 pst), but it doesn't matter. My steering wheels came out exactly like this guys. I have a brand new X again. Very happy camper
M3 Steering Wheel Leather Restore? - E46Fanatics