After reading countless threads and also seeing a couple of videos of people having their beloved BMW's stolen using the OBD port I've decided to hide mine. Here's how i did it.
Firstly take the panel off just above the pedals in the drivers footwell via 3 x screws in the front.
Secondly take off the bonnet release handle - phillips screw in the top of the handle.
then take out the panel screw behind where the handle was just taken off. this should free up that panel a little.
Next you need to pull that panel out, its pretty tough plastic but still be careful not to break it as it has 2 x panel clips on the back of it.
Once this is off you will see the OBD port is held to the car via 2 x phillips screws, simply undo these and the OBD port is free to hide wherever you wish.
Do these steps in reverse to get the panels back to how they where.
When the their tried to plug his OBD reader in he'll have a surprise and won't start pulling the car apart to try find the port.
Car saved i recon.
Should you need photos I can get them or if you dont want to do it yourself i can do it at a meet if you tell me prior to me coming so i can bring the necessary tools.