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CPO is truly great and can save some major money if problems arise. I'd go for it. It's worth the peace of mind.
I purchased an '06 325i from an independent dealer back in October and nobody knew it was still under warranty. I only found out because of an old, half-ripped window sticker that was in the glove box that showed it was covered through May of 2012. Car seemed fine and didn't really have any issues, even had it gone over by a BMW shop and nearly everything checked out just fine and dandy.
Fast forward to now, and I've had over 10k worth of work done to the car by my BMW dealer. The only thing that actually broke/went out was the water pump, the rest was more preventative maintenance/what BMW thought needed doing...
I've only paid a couple hundred in deductibles, and the free towing from BMW assist when my water pump went out was great.
They've replaced my transmission and fluid (tranny was jerky and left a code deep in the computer apparently, BMW corporate gave the OK to replace the whole thing), lifters and rocker arms (engine ticking), blower motor (faint fan rattle), ignition coils, fixed the center console heated/cooled cupholder, etc.
I'd definitely go for it. It may not save you from 10k of repairs, but even something as simple as a blower motor on these cars isn't cheap to replace.
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