Ok, I had a bit of a trial by fire, but I did learn a few things.

You will need a 5/32nds drill bit, preferably a cobalt one, since the brake pedal is steel. You will also need a 9/64ths (or even smaller) drill bit for the set screws used on the gas pedal and dead pedal. I also...

$110 to drill a few hole - WOW - that's just insane.

To each his/her own. I once heard a SA tell this hot blonde that she needed a new driver side floor mat for her X5 but told her it's better to buy the whole set including the one for the rear cargo rather then just replace one. She said OK.

Ok - thanks OP for the instructions. I just completed this mod and man does it look NICE

Everything was straight forward - took my time and did everything by the book.

Drilling through the metal brake pedal was no big deal - took my time and went slowly.

Toughest part was determining how much to cut off the screw on the top of the gas pedal because it did touch the back if I left it at the stock length. I just took a big pair of plier and cut about 1/4 off the screw and perfect - no problems.

Definitely would not pay someone $100 to do this for you unless an hour of your time is worth more then $100 spent. It's basically drilling holes and putting screws and nuts together.

Anyone in ny-li area got time to do this for me? i won't pay 100 but il pay something

i just did this on my car right now. but i got the aluminum pedal set from bimmian. install on the brake clutch and footrest went fine but they gave me stupid long screws with the nuts for the gas pedal similar to the ones used for the brake and clutch. thinking about going down to home depot tomorrow to get some shorter set screws for the gas pedal. any idea as to how long they should be?

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I just installed the gas pedal normally and then clipped off the extra length flush with the nut on the back of the pedal.

Very nice write up. I just installed these CFs on my 08. I did cut the top two hex bolts shorter and attached.
http://img707.imageshack.us/img707/5741/cfpedals.jpg

Just did a matte black grill and aluminum pedals on my E90. Total time=1.5 hours. Without the DIY posts here, total time=6 hours (3 hours of itching my ass trying to figure it out).
Thanks to them that have posted and them that will post.

Neato. You think a 30 year old drill can make it through the metal? If not I might have a problem.