I have driven pre-LCI M5 and own LCI CP (I actually blind ordered the CP on the LCI for Sept 2013 delivery).
There is a noticeable difference between the two: -
Wheels: 20" 601M - cast, but NA has free upgrade to forged 343Ms (I paid to upgrade mine). Unless you are sticking with the 19" 345Ms, you need to reduce the price of the CP accordingly (as mentioned above).
+15hp - this is more noticeable than you may think - see post from B1Pilot below.
Sport exhaust w/black chrome tailpipes - noticeable difference in sound - removing the baffles makes the exhaust louder & more aggressive than stock at lower revs/part throttle openings, however, it's still a fully tested OEM exhaust (I have updated mine to M Perf exhaust, but that's another discussion). It is not the same a wiring the valves open on a stock exhaust (you could also do that on a CP exhaust). IMO the black chrome tips look better than stock chrome & they will hide carbon/soot deposits better.
Sports steering - again noticeable - direct, incisive, noticeable at all speeds. The Sports+ setting is almost too unassisted on anything but a straight road. The pre-LCI had a habit of inconsistently varying the assistance at low speeds (say if you lift of the throttle pedal to turn a 90 degree corner, steering could go superlight), however, they should have fixed this on the non-CP LCI.
Sports suspension settings - for me the reason I would always tick the CP box. Makes the chassis feel much tighter, with some trade off in secondary ride quality compared with stock (not as much as you may think considering the gains in body control). Compared to a non-M F10 with adaptive suspension, the std M5 is a much firmer riding car (but still supple), the CP is firmer still, but not uncomfortable (this is still a long wheelbase car based on an insulated comfort chassis - also used for 7 series & RR Ghost). Also lowers ride height from stock.
Specific MDM application - shouldn't really be trying this on a public road, so if you don't intend to track often/have access to private roads, the least useful change from stock, but depends on how you drive (the balance of this car is more towards power than chassis control).
All of the above is a fully covered by warranty, OEM performance upgrade; don't underestimate the value of this.
Is it worth the $7300 - only you can judge if it is worth it for you by trying both, however, ensure you try both CP & non-CP on extended test drive & varying roads before you decide. In terms of residue value the CP will not depreciate as fast as some other options (the fact that most of the demos you can try at dealers have CP fitted, should tell you something).
Have a read of some of the previous posts/videos and do a search on track times (the CP makes more of a difference on track than you may think): -
http://f10.m5post.com/forums/showthread.php?t=886999
http://f10.m5post.com/forums/showthread.php?t=898124