I was sent a similar notice from BMW Canada. They offered a discount of $450 off of the 7yr/200K kms warranty.
Quite frankly, if I get burnt with an expensive repair outside of the 4yr/80K warranty I just won't ever buy a BMW product again.
I bought a few new GM products in my past and now I'll never (ever) buy their junk again. I've got a couple of kids and they won't ever buy GM either (well that is if they want me to help them out). Companies reap what they sow.