Welcome.
I personally think that an oil/filter change at 500 miles when you'll be getting one at 1200 miles is overkill; YMMV. Also, at the 1200 mile service I think you'd be better off letting the dealership place the OEM M5 oil in the car; in fact they may refuse to use your Mobil 1. Regardless you could then do your own oil/filter change at 5K miles.
Take care,
Bish
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