I have it on the E92 M3 which has seen two 'double tracked' seasons and has all stock radiators.
It works great. It's vented like the OEM one but has never sprayed any crap all over the engine bay
There is no filter which is a downside, but I replace the fluid every year anyway because it gets black (with or without filter)
As far as level, you should leave it right above the metal mesh it has inside.
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