Back to the point, the OP's question as to Mike Miller's advice...
Mike's advice will ensure that your car is as reliable as humanly possible for as long as possible. Is it overkill? Not if you plan to keep your car a long time, and also want to be sure that you can get into your car on any given day and leave for the opposite coast without worrying about whether you'll make it or not.
It's a pricey plan, too, but people are willing to pay for peace of mind. There are tens of thousands of BMW owners, probably the majority of new BMW owners, who have no problem with keeping their cars in primo condition.
Two examples (I won't be specific because Mike requests that his suggestions not be quoted on the internet, for obvious reasons): Radiator replacement and oxygen sensor replacement. Mike suggests that these very expensive items be automatically replaced at set mileage intervals even though there is nothing wrong with them! Why? Because he knows that they are going to fail eventually and failure could be a much greater inconvenience and expense. That's good enough reason for many people.
I own a garage and service many older and on-warranty BMWs. My plan may differ from Mike's, and it does in some significant ways, but in the end it's the owner's call when all the cards are on the table.
In closing I will make one more point. If I were taking a trip in a small plane, and Mike Miller were an airframe mechanic, I'd want my mechanic to be following his plan.
Last edited by DSXMachina; 10-16-2012 at 05:17 PM.