I wish I'd taken pictures during the install... i'd have posted a DIY.
I'll try to describe the entire process in detail:
(This is FYI only... If you break something, don't blame me!)
First, you do not need to remove the entire console.
I'm not fully sure if the pre-LCI cars are the same, but this is certainly true for the 2009+ e90.
Also, I'm not at all sure about the e92 or the e93. The consoles might be different, so keep that in mind.
Here are the steps I used:
1 - Open armrest and remove the rubber liner of the little tray in there (the spot where you'd put your phone). With the liner out, you can see down into the console. The curved plastic thing you see is the duct work for the A/C to the outlet on the back of the console.
2 - Remove the trim piece from the back of the console by sitting in the back seat and working slowly to pry around the seam until all the clips release. You'll have to work at this... and go slowly! Don't crack any of the clips. A plastic pry-tool would probably come in handy, although I didn't use one. Be careful when the piece finally comes loose as there is a wire that connects the temp dial to the console... you don't need to disconnect it... just carefully set the trim piece to the side a bit without stretching/breaking the wire.
3 - Looking into the back of the console, you see where the A/C duct empties out into the vent piece on the trim you just removed. It is not fastened to the console, it just sits in there and those little tabs on both side of the end of the duct kinda hold it in place. Carefully work the duct to get it loose, then pull it toward the back of the car. Mine did not come out very far.
4 - Sit in the Driver's seat (or maybe passenger's if you're left handed) and stick something down the hole you uncovered to get leverage on the end of the duct closer to the front of the car. A plastic tool with a lip or hook on the end of it would be really handy. I did this with my left hand while I reached back with my right to get my index finger on the bottom of the module that contains the USB and Aux jacks.
EDIT - I wasn't clear here... by "get leverage" I mean you use something to push the duct toward the back of the car. This gives you enough room to reach the back of the console with your other hand and get that finger on the bottom of the module.
4a - DO NOT DROP WHATEVER YOU USE TO PUSH ON THE DUCT DOWN INTO THE CONSOLE. YOU MIGHT NEVER SEE IT AGAIN WITHOUT TAKING THE ENTIRE CONSOLE OUT.
5 - Once you get a finger on the bottom of the module, just push up. The whole module should pop out of the receptacle.
6 - The wires to the bottom of the module are kinda tight and short, so I used a really small pair of ViseGrips to clamp onto them so they wouldn't fall back down into the console where I wouldn't be able to reach them.
7 - Disconnect the wires from the old module, plug them into the new module, then plug the new module back into the receptacle.
8 - Go back into the back seat and start working on putting the A/C duct back into place. This took me a while. Keep at it. It needs to go all the way back into the same spot it was before so the trim can sit correctly and clip back into place. then replace the trim and put your rubber liner back in the armrest.
9 - Have a beer.
And listen to some music from your iPod while you sit in the driveway with your wife shaking her head at you. That's what I did.