OK there is Inspection I and Inspection II and they both rotate like every 15,000 or 20,000 miles i believe as to which one you are supposed to do. Inspection II is the one I had done and includes changing the air filter, oil and oil filter, spark plugs, checking all trans fluid and diff fluid.....umm actually I found a site here http://www.bimmerzone.com/inspection.htm
For all that it is going to take more than an hour. I called my local dealership and they quoted me $830, and they would give me a loaner car since it takes so long to do. I ended up taking it to a bmw specialist mechanic and I bought my own fluid(redline, better fluids), and air filter (k&n) this saved a bit of money from them but it ended up being the same since i spent the money on the parts. I had to leave it with them for the day.
That should give you all the info you need, as you can see these are a bit more in depth than the general inspection. If you have the service records on your car you should be able to see when they did these inspections.