the e46 M offsets are lower... they are doable on an e90 though. A lot of guys with e90 sedans are running them on their cars... your rear offsets are in the 20's right? vs mine stock are in the 30's (34 and 37 to be exact) With either a stretched tire, rolled or pulled fenders and/or the right ride height its manageable. Also the rear width has a lot to do with it... I mean anything over a 10in wide rear is hard, but not impossible to pull off.
Pic for reference... e46 M3 BBS LM (et32 fr/et27 rr I believe) Minor stretch, a bit of camber, perfect ride height.. so it can definately be done. Most people do it cause with the offsets it maximizes the actual lip size on the wheel