Can't say I like the style of the 2011 550i , looks to much like every other luxury car with no muscle appeal.
I bought my 08 550i sport in Nov 2008 for $59 even. Sticker was $71,300. That was with two years left on the body. I would think $55K to 58K is the range your should be able to purchase assuming/ Make sure you ask and get everything you want . I was able to have them completly change out my interior wood package to one I liked better at no cost, and throw in a Wheel insurance plan. I'm in Atlanta.

 

Not completely true, the '10 has the new iDrive system with hard drive for storing music etc. But is that worth the upgrade? Probably not...

 

My 08 550 was a December 07 build and sat on the lot in Fresno, CA for a long ass time before we purchased it in June 09. Sticker was $70k, we got it for $55k.

I love mine but there are a few additional things you get for 2010. Besides the new iDrive, you get an anthracite headliner, ///M door sills, ///M footrest, and an ///M steering wheel. I put the footrest on mine and will eventually do the door sills but my steering wheel will have to remain the same.