Congrats on the new 2008 535i, it's a beautiful car.
Not to be rude, but didn't you read the manual??? It comes standard in English, and is easily available to you in French, Spanish, German, Dutch, Japanese....
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The owner's manual will tell you every feature that i-Drive can and cannot do. It's really informative, and surprisingly easy to follow for being a BMW!
It is very easy (as per the manual's instructions). After the car is at operating temperature, click the i-Drive in the settings menu. That's the BIG i right in the middle of the i-Drive screen. Click on Info, Service info. It will tell you if the oil is OK, or whether it needs some added. I don't think it's going to tell you oil pressure specifically. I have never seen this in our 2007 750Li, or my 2008 X5 (which has the same i-Drive system as your new 535i) This menu will also tell you about coolant, brake pads, rotors and other vital parts of the car.
I understand the car manuals are now like 500 pages, but over the years...they have become quite easy to understand.
I guess I'm just in a kinda "dicky" mood today. Sorry!
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In all honesty and kindness though, Welcome to the Board, and again congrats on the new car.