If you want to touch up stone chips, there is also a method you can use to "even" out the paint blob. You'd have to over-apply the paint a bit in order for you to remove the excess and with the OEM touch up paint, you can remove the blob after 5-6 hours after application. Lanka uses a method that employs a cloth and a 'card' with a medium abrasive compound. You can make your own 'kit' using an old cotton shirt cloth, a flat card (old unused DirectTV card for ex.) and Meg's #9 Swirl Remover. Go to the Lanka site to see the method.
2003 E39 354 Titansilber Metallic 530i
N6SW Schwarz Montana Leder
M Executive Package
BMW AG Sport Package