Yesterday I played with the built-in Nav at the dealer and with Garmin in Car Toys. Here are my thoughts:

BMW Nav:
- is not easy to use. Typing an address is a nightmare without remote or touch-screen
- it does not allow to find a place/address by entering a phone number
- it disables the ability to play MP3's in E90
- it replaces the "BMW professional" radio/CD player (which I think is very good) with very basic CD/DVD slots
- it forces to control the music system through single iDrive knob (instead of multiple functional buttons on the "BMW professional" radio/CD)
- from what I read (I haven't tested that) the directions are not as accurate as with third party Nav systems
- it is extremely overpriced at $2000
+ it looks very nice on the dashboard as a built-in system (some people disagree and claim that one hump looks better, so I think it's an individual preference)
+ it has large screen
Garmin Nav:
+ is very easy to use, has lots of functions and touch-screen
+ it allows you to enter a phone number to find associated place/address
+ doesn't disable the ability of playing MP3
+ leaves the original "BMW professional" radio/CD and climate control in place
+ is portable, so you can take it anywhere
+ costs anywhere from 500-1100 depending on model
- doesn't look as great as built-in Nav in the dashboard
- has smaller screen
Basically, taking functionality and price as priority, Garmin by far wins in both categories. So, why do people buy BMW Nav then?

Do they sacrifice functionality and price just for nicer look? I wonder...