OK, here we go. I have a 2007 Sept built E92 M3 with the old iDrive controller. I purchased the 2009 iDrive controller based on Technic's experience. I am still waiting for my trim so I haven't had a chance to properly install it.
Following the issue highlighted in this thread today I decided to check whether mine would work. Guess what ... it does perfectly and no issue whatsoever.
If someone can tell me how to check what software level I have on the car, then I can tell you. For now I am happy and I can't wait for the trim to arrive.
So the bottom line is, it's software related I would say this because mine is a 2007 built car. I did have the software updated sometime last October. So there we go.
Have the software updated ... it will cost you because BMW doesn't believe in updating the software for no reason, and cannot be claimed under warrantly.
Also another issue relating to software upgrade is that some components fail and have to be replaced. The dealership will not take the responsibility for this and it is at your own peril. The component that's prone to failing is the telephone module. I've seen this happen on new cars and it's a costly affair. That's why BMW will not update the software if there is no issue with the car.
So the new 2009 idrive controller - P/N: 6582 92 13 309 does work but if you have the correct software. Good luck!