Over the last couple of days I've completed the inspection 1 service on the M. First time for me and what a pleasure of a job (honestly), even working outside in the cold wasn't so bad with enough layers on. This guide was excellent btw: http://www.z4-forum.com/forum/viewtopic.php?f=34&p=1371875#p1371875
It took me hours longer than it needed to, partly as I'm methodical (some might say slow) and partly the laptop file corrupted when it ran out of battery meaning I had to start again. A visual check of the cams and followers revealed nothing unusual and the Vanos tabs looked fine too.
I bought the Wiseco shim kit from the states via ebay with 3 of each shim, but if I were doing it again I would probably just order shims in a narrower range , particularly 2.20 and 2.24mm. I ran out of both these sizes but amazingly my local dealer (Dick Lovett, Bath, formerly Wellsway) had them in stock! I used two different feeler gauges, one bent, one straight (that I bent myself) to reassure myself the measurements were spot on. The BMW magnet tool is excellent and well worth buying, I didn't have any shim escapees. Total consumables cost including import taxes was less than £300 and the shims can be re-used in the future.
I bought all of these things:
Valve cover gasket (1): 11 12 7 832 034
Rubber seal / grommet (13): 11 12 7 830 972
Rubber seal / grommet (2) 11 12 1 437 395
Cap nut assembly (extra stud/washer/grommet for valve cover in case lost): 11 12 7 838 078
Cap nut assembly (extra nut/washer/grommet for valve cover in case lost): 11 12 7 838 075
Profile (spark plug) gasket (6): 11 12 7 831 271
Gasket ring / copper washers: (3, gives 1 spare): 07 11 9 963 129
All above from local BMW dealer with BMWCC discount £130ish
BMW shim installation tool (1): 83 30 0 493 743 (Amazon $40, looks like it is cheaper now!) https://www.amazon.com/gp/product/B00LM056N8/ref=oh_aui_detailpage_o00_s00?ie=UTF8&psc=1
Spark plugs [NGK DCPR8EKP] (6): 12 12 0 022 902 (Ebay £53, not needed for insp. 1 but I changed them anyway)
Wiseco shim kit (Amazon $60) https://www.amazon.com/gp/product/B006573A6I/ref=oh_aui_detailpage_o01_s00?ie=UTF8&psc=1
Bent feeler gauges (Amazon $10) I would suggest buying another set to give different thickness at the smaller end of the range
https://www.amazon.com/gp/product/B0009OR94M/ref=oh_aui_detailpage_o01_s00?ie=UTF8&psc=1
3 x extra 2.24mm and 3 x extra 2.20mm shims from BMW dealer (£16)
Castrol 10w60 Oil and filter £65ish
Liquid gasket for the half moon and Vanos areas when putting the cover back on (already had some)
Micrometer/Vernier (already owned, cheap ebay job but very accurate)
Some of the clearances were spot on in the middle of the range but most were slightly too tight going by this range:
Inlet .18-.23 and Exhaust .28 - .33
Only one required more than the next smallest shim to bring it to the middle of the range thankfully. The helpful parts guy said that the guidelines they have on their system said that all of mine were within range after all: have BMW relaxed the above measurements? If so then I can only assume that at the last inspection 2 they were checked and possibly left alone? The rubber gaskets were nice and flexible suggesting that these have been changed at some stage.
Any guesses why some of the clearances were a bit tight? Slight valve seat regression? Laziness/hasty measuring at previous inspection services?
For anyone wondering whether to do this yourself, I'd say go for it. If you can change discs and pads and general service work then you can do this.
It took me hours longer than it needed to, partly as I'm methodical (some might say slow) and partly the laptop file corrupted when it ran out of battery meaning I had to start again. A visual check of the cams and followers revealed nothing unusual and the Vanos tabs looked fine too.

I bought the Wiseco shim kit from the states via ebay with 3 of each shim, but if I were doing it again I would probably just order shims in a narrower range , particularly 2.20 and 2.24mm. I ran out of both these sizes but amazingly my local dealer (Dick Lovett, Bath, formerly Wellsway) had them in stock! I used two different feeler gauges, one bent, one straight (that I bent myself) to reassure myself the measurements were spot on. The BMW magnet tool is excellent and well worth buying, I didn't have any shim escapees. Total consumables cost including import taxes was less than £300 and the shims can be re-used in the future.
I bought all of these things:
Valve cover gasket (1): 11 12 7 832 034
Rubber seal / grommet (13): 11 12 7 830 972
Rubber seal / grommet (2) 11 12 1 437 395
Cap nut assembly (extra stud/washer/grommet for valve cover in case lost): 11 12 7 838 078
Cap nut assembly (extra nut/washer/grommet for valve cover in case lost): 11 12 7 838 075
Profile (spark plug) gasket (6): 11 12 7 831 271
Gasket ring / copper washers: (3, gives 1 spare): 07 11 9 963 129
All above from local BMW dealer with BMWCC discount £130ish
BMW shim installation tool (1): 83 30 0 493 743 (Amazon $40, looks like it is cheaper now!) https://www.amazon.com/gp/product/B00LM056N8/ref=oh_aui_detailpage_o00_s00?ie=UTF8&psc=1
Spark plugs [NGK DCPR8EKP] (6): 12 12 0 022 902 (Ebay £53, not needed for insp. 1 but I changed them anyway)
Wiseco shim kit (Amazon $60) https://www.amazon.com/gp/product/B006573A6I/ref=oh_aui_detailpage_o01_s00?ie=UTF8&psc=1
Bent feeler gauges (Amazon $10) I would suggest buying another set to give different thickness at the smaller end of the range
https://www.amazon.com/gp/product/B0009OR94M/ref=oh_aui_detailpage_o01_s00?ie=UTF8&psc=1
3 x extra 2.24mm and 3 x extra 2.20mm shims from BMW dealer (£16)
Castrol 10w60 Oil and filter £65ish
Liquid gasket for the half moon and Vanos areas when putting the cover back on (already had some)
Micrometer/Vernier (already owned, cheap ebay job but very accurate)

Some of the clearances were spot on in the middle of the range but most were slightly too tight going by this range:
Inlet .18-.23 and Exhaust .28 - .33
Only one required more than the next smallest shim to bring it to the middle of the range thankfully. The helpful parts guy said that the guidelines they have on their system said that all of mine were within range after all: have BMW relaxed the above measurements? If so then I can only assume that at the last inspection 2 they were checked and possibly left alone? The rubber gaskets were nice and flexible suggesting that these have been changed at some stage.
Any guesses why some of the clearances were a bit tight? Slight valve seat regression? Laziness/hasty measuring at previous inspection services?

For anyone wondering whether to do this yourself, I'd say go for it. If you can change discs and pads and general service work then you can do this.