I recently had an SES light come on and purchased a Peake reader from bimmerzone. Then a buddy gave me an old one he wasn't using any more, so now I have a spare.
The one I purchased is the "combo" tool which can handle the older under-the-hood OBD connector as well as the one under the dash (it comes with an adapter cable). It works fine and comes with the case and book.
Original cost was $169.90 about one month ago.
I'll sell it for $150 via paypal, includes shipping in the US.
Description from Bimmerzone (
http://www.bimmerzone.com/resettool.htm#1)
R5/FCX3-U (Combo) Fault Code BMW Reset Tool (1987-2007 BMWs)
Reads trouble codes/Scans codes, resets Check-Engine, Oil service and Inspection:
The Combo includes the FCX 3 and the AB03 Adaptor