I don't think that it looks bad per se. However the issue with CF is that it is a functional modification when used externally that happens to be beautiful as well. The performance advantage to CF parts are reduction in weight. When you put CF wrap on a hi end performance car you are not getting the weight reduction. That is what causes folks to scratch their heads.
I would say if you are going for the CF trim look, then bite the bullet and get actual CF performance parts to lower the weight and enhance the look.
I do not understand wrapping the glass moonroof.
I do believe that IND sells a full CF roof panel that saves weight and loses the moonroof. I don't know if anybody other than IND has it on their M5 though.
http://ind-distribution.com/ind/bran...bon-fiber-roof
As far as durability goes (apart from the CF comments) I have been very happy with my gloss black roof wrap. I do like how it visually lowers the appearance of the car.
The most important thing is that YOU like it however!