Well, further to the 'utility' aspect of the X5M, whether or not it has third row seating:

It has as standard, Trailer Stability Control, which means they kept that feature in even as they revised the DSC settings for the M model. Optionally, it has a trailer hitch. Here is the cool part: the X5M hitch ball swivels electrically, presumably to hide itself behind the rear apron. The X6M has to make do with a manually-removable trailer hitch ball.

I can see the M purists spinning out of control. An M with a trailer behind it. Might have to actually go and look at one of these. Given that the M5 with some options is $125 CDN before taxes, I figure an X5M will be over $130 here.

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue