This is a good deal!
You getting this car a $10k under sticker. One year ago, we were paying sticker in So Cal.
$1,300 monthly payment sounds good also.
Others may want more detailed info as to money factor, how long the lease, miles allowed per year, etc.
The M and the 550 are very different cars. The trip to Europe is cool though. However, the trip will be a memory and the car will either be a reminder of what you could have had, or a reminder to take that trip to Europe next summer.
Good luck with your decisions and