First of all, Najeeb, that's quite a link! Up until seeing that one, I'd used the following useful instructions to begin doing my own brake maintenance:
http://www.bmwtips.com/tipsntricks/C...gBrakePads.htm
Your link is far more comprehensive!
I've now tracked the Beast prolly ten times, and each time I've installed Mintex C-Tech pads up front. For the street, I use Mintex Red Box for their dust-less-than-stock qualities. The C-Techs are more of a race compound pad, and as such, they dust MORE than stock. Last time I checked, they were not available for the rears.
As far as squealing goes, once bedded, they're not much worse than stock. On several occasions (including right now), I've been lazy and did not remove them after a track event. They work fine for the street, but as I said, do dust more.
On the track, I've found them to be quite capable. With the exception of my very first outing in the Beast (bone stock, at 1400 miles!), I've not suffered from brake pad or fluid fade of any significance since making the following mods: Open ducts (per MarkM5Lauderdale's early instrux), Goodridge stainless lines, ATE Super Blue fluid, and the Mintex C-Tech pads.
I'd been kicking around a big brake kit since I first found this board (and had initial conversations with Bob Lee at StopTech to see if they'd do a kit for the E39 M5), but since I made the referenced mods, I've not seen the need. I still love the aesthetics of big red calipers, but I found better ways to spend three large (can you say KW?!).
By far the best place on the web to get Mintex pads cheap is through Adirondack Auto Brokers:
www.germanautoparts.com . Ask for Mark or Dave. You can get a set of four Mintex Red Box for the street for under $100, while a pair of the C-Tech fronts will run you ~$150.
Hope that helps!