Bimmergeeks is the proven solution for getting a working standard tools installation so I'd follow that.
I've had a look at Bimmerlabs before and like the idea of flash tuning with WinKFP but with the N54 platform there is better tools. One thing I did notice about the Bimmerlabs method was that it's very sensitive to WinKFP settings so make sure you follow that part to the letter. Something about disabling bootsectorupdate IIRC.
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