Did this ont he Z4 MCoupe and it helped shifting from 1-2 somewhat. It's still a little tricky, though,
I used the replacement valve from Zeckhausen:
http://www.zeckhausen.com/CDV.htm As far as I'm concerned it's the only way to go. I don't believe you can just take the valve out. The line won't reach, or at least I wasn't willing to bend it to force it to reach.