Believe it or not, a thinner head gasket can add .25 to .5 to the compression ratio, such as going from 8.5 to 9.0. Not a lot, but it is enough to add a few hp IF everything else is set up correctly. You also have to be certain that a thinner head gasket will not cause the valves to hit the piston.
Sorry, can't help you with the speicifics of your engine, I have never tried this on a BMW, only on go-cart engines!