So I noticed that my 2008 550i that has the sport package (ZSP) has the M-sport wheels, bumpers, etc, but it doesn't have the M-sport steering wheel (no logo at least). Is that normal, or is that a side affect of also having the shift paddles? I ask because I thought that the sport package included this by default.

The sport package you and I have is slightly different from the M Sport package that came on 2010 550s. Ours has the aero stuff (bumpers and rocker panels), M wheels, "retuned sport suspension calibration" (different from normal sport package suspension) and the dark chrome dual exhaust tips.

As far as I know, the 2010 M sport package includes all that but also has the anthracite headliner, M footrest, M door sills, and M steering wheel. I thought mine had all of this stuff too and was a little disappointed but I've learned to live it. I bought the M footrest and installed it and plan on buying the M door sills. Most of all I wish I had the anthracite headliner.

Mine came with the headliner, but based on the options list it was a separate option. What are the M door sills and foot rest? I've seen metal pedal kits you can get (three for manual or two for auto) is that what you mean? I'd like the pedal kit too.

BTW your color was #2 on my list. I love black, platinum, and white, but having black in the past I started at the opposite end of the spectrum. Platinum would have been my next choice.

Yes the anthracite headliner was available as a separate option for 08 and 09. You are lucky to have that! The footrest is to the left of the pedals... like where you would put your left foot. The stock one is just a black plastic but the one linked below is the one I got and is more like the M5. It just looks nicer in the footwell than the plastic one.

M Door Sills

M Footrest

And thanks for the compliments on the color of my car, I absolutely love it. Carbon Black seems to be the most common I see followed by Space Gray and Black.