I've got a 09 e90 with bluetooth hands free but not the usb.
Beware of the iPhone cradle. It's a bit of a tight fit on my 3GS and I think it broke the power button on my phone. Replecement phone is an even tighter fit so I haven't used the cradle...
I bought a bluetooth stereo gateway to send an audio signal to my car whilst using the bmw cradle. It works really well! This also means I can keep the phone anywere in the car and have wireless music.
BlackBerry Bluetooth Stereo Gateway: Amazon.co.uk: Electronics & Photo
The only slight problem I've had is due to start up problems with the two bluetooth systems. They can somethimes interfere causing an audio drop out. The cars bluetooth comes on as soon as the radio is turned on, or if left on as soon as you insert the key-fob. The gateway takes power from the power outlet/cigarette lighter which only comes on when the engine is started.
The solution is to turn off the radio before the engine every time you leave the car. When you get in start the engine. Select the music you want to play. Once the gateway appears in place of the volume bar on the iPhone press play and turn on the radio. This is normally about 10-15s after starting the engine. If you get a drop out leave it a bit longer.
This way allows good quality un-interupted music and the telephone system to work perfectly, pauses music to take call. Also, this is really useful if you have tomtom on your iPhone as the directions come over the bluetooth gateway pausing the music.
I hope this helps.