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On my first ring trip this year I got upto an indicated 160 in the 325d (my pioneer sat nav was showing a GPS 154 mph) The car was still pulling all be it quite slowly but I had to brake hard to avoid a blind Belgian man in a Megane. On the second trip I got upto an indicated 170 in the M3 (in 5th gear) but didn`t have the portable sat nav as its built in.
The BMW speedos seem to be about 3-6 mph out but very accurate to this, all the way around the speedo, I have a pic of Ant and Petes E90 D3 showing a GPS 162 and the needle is just under 160.
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