I have been thinking of doing the exact same.
Your wrap project just decided its for me.
I love the look and again it is inexpensive and reversible.
I already have a very large roll of good quality CF so I am good to go.
If interested, I wrapped my Front, gray plastic grill inserts and again its give a totally upgraded and different look.
Pics to follow.
2009 BMW Z4 35i/SMG/DCT/Premium,Cold, Sound PK/Com Acc/Ash/PDC/Wind Deflector/Smoked Reflectors/Red Calipers/Cl Mask/M Series Grill/6000K LED's/De-Badged/M Pedals/CF Mirrors/Stubby/20% Tint/H8 LED's/LCI Side Markers/Super Sprint Spoiler/VMR V710