Zman, Stem, FAST4DR - The parts I ordered are as follows:
Grille Insert - 51-11-2-495-280 $43.13
Air Duct Left - 51-11-7-890-013 $25.67
Air Duct Right - 51-11-7-890-014 $25.67
Web Center - 51-11-7-893-048 $49.61
Lower Cover - 51-71-7-008-689 $19.18
Lower Cover - 51-71-7-008-690 $19.18
These are located in the BMW parts catalogues under the Euro-Spec 540i/6 M-Technic. The Grille Insert comes primered and must be painted to color.
I don't think you can order this as an M5 option, but I would see no reason why it couldn't be ordered by the dealer and installed by the dealer prior to pickup. I have seen photos of an M5 (I think it's Terence's, or tfung as he's known on the board) who has his grille insert painted with the M stripes. very cool idea and it looks great. Maybe he'd be kind enough to show us a photo?
Lear - Thanks for the link to the brake duct installation thread. I will definitely check that out and print it out.
And last, but not least, Teutonaddict - Thanks so much for the detailed info.
I do intend on replacing the grille with the pre-drilled one, since I ordered the ducting and the lower fender inserts. Since the parts guy told me the splitter comes primed, (I do intend on having it painted titanium silver, maybe with the M stripes), but do I have to install that if I don't want it?
I'm a little concerned about removing the entire front bumper ! Should I get someone else to help me? It sounds like a two person job?