No matter what reflector you choose (OEM, Painted, Clear, Smoked) they all look awkward. The only way to "fix" this problem is to have them shaved (aka filled in) and the bumper repainted. It will cost you $1000+ but anything else looks mickey mouse IMO. I did it on my last M3 and it was one of my favorite modifications. I'm puzzled by the amount of money people spend on cosmetic mods (spoilers, front lip, tint, etc.) and don't choose to get the reflectors filled. I'm a huge fan of the clean look that it creates.
'13 M3 - Silverstone II - Sold
'04 M3 - Jet Black - BBS E88, KW Clubsports