I would strongly recommend getting a clear bra. I didn't initially on my M3 but after just 6 months it looked like my Acura did after 18! BMW seems to use really soft paint. Anyway, I have VentureShield and you can't really tell it's there even from inches away after you've been told it's there; the only spot it's visible is at the edge of the panels where you can see the edge of the film, but even that's only visible from very up close. I've heard a clear bra can be visible on black cars (especially when installed poorly), but I think white if anything will be the hardest of all to spot clear bra on; white is already so bright and reflective that it should hide it even more effectively, kind of like how white hides dirt whereas it's totally obvious on a black car.
VentureShield will NOT discolor the paint over time because it's UV-transparent, which means paint under the bra will fade along with the rest of the car. It WILL become less transparent over time (it's guaranteed to stay clear for 4 years) but when that happens you can just have it professionally removed and get a fresh coat installed. You should also wash your car at least once per month after getting clear bra because bug spatter and other residue left on there too long can leave permanent tiny gray clouds; again, it won't leave any colored marks (just a mostly clear gray) and it's not noticeable unless you're up close, especially on white, but it might bother you if you're OCD.
FWIW, I got it on my front bumper, headlights, and mirrors. I deliberated on the hood but if you only cover part of it, you'll definitely see a seam there because it ends in the middle of a panel, so your options are either to deal with the seam, cover the entire hood (not cheap), or leave the hood exposed. I left the hood exposed and of course there are some tiny dings on the very edge of the hood just above the front bumper, but hey nothing will be perfect forever.
Lastly, the only issue you might run into is the installer not having computer-guided cutout patterns for the F10 M5 yet. I'd recommend going to a shop that uses them because you get a much more precise fit that way, which means more coverage of the panel and a cleaner installation -- but then you have to wait until that installer's software vendor makes a pattern for the F10 M5's panels.