Thanks to everyone on the discussion forums for the valuable information which helped me decide on the following options I ordered on a new 530i today:

A08 - Silver Gray exterior
LCSW - Black Dakota leather interior
438 - Dark Poplar Grain Wood trim
205 - Steptronic automatic transmission
ZPP - Premium package
609 - Navigation system
456 - Multi contour seats
677 - Logic7 sound system
322 - Comfort access
655 - Sirius satellite radio

I ordered the multi-contour seats after trying them out, based on everyone's strong recommendations. I also ordered comfort access and satellite radio, despite the problems reported by a few users, since they seamed like useful options. I will also have the dealer install the new BMW iPod Integration kit when my car arrives in mid-July. Now the long wait begins...