I just completed my first oil change at just under 5000 miles. I bought 7 quarts of the BMW oil and a BMW oil filter at the dealer. I used my BMW car club discount and it cost me $58 + tax. I also bought a BMW oil filter wrench for $27 using the same discount. It was very straight forward if you have ever changed oil before. The oil drain plug is at the very back of the engine which helps draining if you use ramps like I did. It is under the only removable cover on the bottom engine cover. (takes 2 screws to remove). My recommendation is to not remove the oil filter or oil fill cap until you have drained some oil out first to keep the oil flow managable. 7 quarts comes out very quick otherwise.
I measured the oil that came out just because I was curious and it came to 6 quarts and 28 ounces. I understand this is not indictative of the oil condition but the oil looked and smelled like the oil from my diesel jetta.
I have never noticed that smell from a gas engine before. The BMW oil filter was well worth getting as it came with the gaskets for the filter and a crush gasket for the oil drain plug. The BMW oil filter wrench was perfect for the job of removing the oil filter cap as it fit perfectly and did not mar the surface of the cap at all. Remember to oil up the new gaskets prior to replacing them. Again if you have ever done any oil changes before this is nothing to be afraid of doing.
YMMV,
Paul