When we bought our car off lease, the dealer did a quick repaint of the steering wheel trim and it looked good for about a year. Now it looks worse that it originally did. When I took the car in for other repairs today, I brought it up. The prior dealer did not note the repair as being under warranty, so now that I am only under the CPO warranty, I am screwed. My current dealer said this repair should be a replacement rather than a fix under warranty, but since I am now out of warranty there is nothing they can do.
I did take a look at the '09 X3 they had on the floor, and the steering wheel was the 3 spoke we have on our sport, BUT the trim is now covered by something that resembles the airbag cover and the dash pad texture. Looks like it will hold up much better that the earlier covering. For $119 plus $200 in labor, it's not worth it. I may try to do this myself as it doesn't look too difficult to remove the airbag and trim piece.