I replaced the discs on my Z4M due to the NSF being clearly warped, no more issues.
Discs can cause brake vibration due to either deposits or being warped. Some will say they don't warp and it's always deposits that cause the issue, in my experience that's not true. I've seen may warped discs, it's an easy thing to measure.
A few years back I had an issue with brake vibration on an E39 M5. Changed a lot of components including the discs, issue came back after a few hundred miles. It was finally fixed by getting the discs skimmed on the car, problem solved. That model has a reputation for brake vibration mind.
That was using fairly new discs though, if your discs are already quite worn, I'd just replace them.
Mine came from Autodoc but it was pointed out on here that BMW are sometimes close to the same price, it's worth phoning around and always ask for discount.