I'm pretty sure we won't see Video Out on the iPhone 5 (or going forward), because Apple wants you to use Airplay. Obviously that is not going to work in a vehicle, but watching video on a car's built-in screen is a dicey proposition anyway for both Apple and vehicle manufacturers.
2016 M3 - on order for October 19th European Delivery
2013 ActiveHybrid 3 - sold
2012 M3 coupe - sold