And amongst my friends, we've tried all the ones you've read about. This FAQ is broken up into two parts. In the first part, I give some general guidelines on how to bleed your brakes. In the second section, you'll find the bleeder parts list and some associated instructions. Please remember that you should consult your repair manual for any unique features about your BMW that should be considered while performing this service.
Some folks like to replace the fluid in the reservoir prior to flushing the lines.
This has been known to cause family unrest, and the author of this FAQ suggests you find an alternate solution for the sake of your family. Assemble the bleeder as discussed by Al and Jon below. Refer to your owner's manual for DOT specification if you are unsure. Unless you are a driving school veteran and are attending more than 10 track days per year, I don't think it is necessary to waste your money on racing fluids. Check for leaks.