Do not skip the Inspection II. It calls for brake fluid drain and refill, and radiator drain and refill. You MUST do the brake fluid every 2 years as the stuff gets caustic over time and will kill your brake system prematurely. A fluid change is a lot less expensive than brake system components.
Try to take it to a reputable independent European car shop rather than the dealer. You will get better service and it will likely be a lot cheaper. A winner all around. I did that with my X5 (at 61k) and the cost was $350 for oil service, radiator fluid change, brake fluid change, air filter, micro cabin filter and all inspections listed on the BMW Inspection II list. The shop had all the up to date TSBs, manuals, diagnostic software and hardware, which they were happy and proud to show me.
Beats the hell out of the dealer closed door service policies.