Advice for a noob:
2. Search is your friend.
The E70 has been around so long that there is a HUGE amount of valuable information here on the 'Fest. A couple hours spent reading threads will pay huge dividends.
A couple features you will want to discover, that a lot of owners miss:
Residual heat: you likely had this on your 550, but it is activated differently on the X5
Hill Descent Control
Turning off DSC - when you want to do it, and how to do it.
Why you will occasionally see just one fog light illuminated, and why that shouldn't send you into a tizzy.
Good luck with your new ride.
2011 535xi M Sport
TiAg / Black, ZPP, ZP2, ZCV, ZCW, ZDA, 2TB, 6NR, 465, 5DL, and a Partridge in a Pear Tree
2011 X5 35D
Deep Sea Blue / Oyster, PP, SP, PSP, CWP, Tech, 20" 214's
2008 ///M3 Vert
2008 X5 3.0
2007 X5 3.0
2006 X5 3.0
2006 550iA SP
2003 540iA M-Sport