UH M5,
Welcome to our board and congrats on taking delivery of your new BEAST!
The E39 M5 has such a wonderfully tuned engine from the factory, and this has made it extremely difficult for tuners to squeeze any measurable horsepower using only a software change. One of the best tuners of BMW's (at least here in the states) is Steve Dinan of CA. I have his software and cold air intake on my car and although it provided a few hundred more RPMs towards red line...and also changed the fuel/air mixture to give you a little better acceleration.. don't look to gain any measurable horsepower at the rear wheels.
You will need more than just software to get alot more power out of this car.
My suggestion... drive the car for a while bone stock.. at least until after official breakin (1200 miles) and then decide how much money you want to spend on upgrades... and start with suspension. IMHO.. this is the best performance modification to gain measurable difference in the car...
Good luck!
------------------
Andy
2000 Imola M5 / Black Nappa - Titanium Trim