That sounds perfectly fine to me; dont forget that published figures from BMW (in europe at least) are at the flywheel. Dyno's however, must to be taken with one huge pinch of salt in my experience!!
Typical RWD cars loose around 17% power through transmission losses at the top end. Therefore:
BMW's Flywheel Figure: 192BHP
166.9 + 17% = 195.2BHP