I waited 6 months on my M3 before I got VentureShield and wish I had done it sooner. BMW uses such soft paint that after those 6 months it looked like my previous car did after 18! Definitely worth it IMHO. Hood might not be necessary on the M5 since unlike other BMWs, the hood doesn't dip down toward the front of the car because the front bumper panel rises so high, but definitely get the front bumper, mirrors, and headlights done.
Selling as of September 2015:
11 M3 E92 Le Mans | Black Nov w/ Alum | 6MT | Premium 2 | Convenience | 19" | EDC | Prem Audio | Moonroof | BMW Apps | Yoko AD08 R | Vorshlag Adjustable Camber Plates | StopTech ST-60 380mm BBK | Castrol SRF Fluid | ModMyNav.com rear camera | ECS Tuning Sunglasses Holder