I know this is on bimmerdiy.com but somehow I didnt see it on the list until earlier today. I just did this and it effing works perfectly... the damn traction control keeps you from having any fun

but now i can turn it off or on when ever i want. Man I was out spinning my tires around every corner for the last 30mins

Best thing is the mod costs about 2$ total and bout 20mins to do it all.
So if you like reassurance before you do something.... well here ya go, It works just as they say! Do IT!
Heres the link...
Turning Off Traction Control