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Opticoat 2.0 from Optimum is one option. Takes a little practice to apply correctly but provides long lasting results and protection. It will help save time cleaning off the wheels.
Unfortunately BMW brakes dust a lot.
For a less permanent method try applying a sealant or wax to them.
Hope this helps.
You cant get any better advice than these gentlemen have provided. I have had superior performance and low dust from Hawk Performance Street pads.I feel (felt) your pain. The best thing you can do is get rid of the BMW factory brake pads and get a low dust pad like the Axxis Deluxe. You'll go from the dirtiest wheels you've ever seen to the cleanest overnight. Also, OptiCoat your wheels. I did those 2 things and now my wheels stay pretty much as clean as the paint. This difference is dramatic and worth it. New brake pads will cost you under $175.00 for all 4 wheels. Changing them on a BMW (or any car, really) couldn't be easier. While you have the wheels off, clean them to as close as new as possible and OptiCoat them.
I've been testing the new Meguiar's Hot Rims Brake Dust Barrier on a set of Honda wheels. Granted the don't get near as bad as a BMW wheels but what I see is a dirty wheel that washes clean with just car wash soap.
Having two BMWs I have plenty of experience with this. I would not advise changing your pads since this is a 2011 it will negate your maintenance plan (brake pad replacement during the 50k mile maintenance period) and may negatively impact your warranty for said brakes.
Armour All Wheel Protectant is the way to go...Meguiar's product works well, but it only makes clean up easier...Armour All Wheel Protectant actually does a good job of repelling brake dust.
Opti-coat with Armour All is the best combo I have found...