I use it often in my 535i, actually every time I drive
disclaimer=>remember the 535i is a bigger car hence more benefit from this feature, also you may not need if you already good parking.
scenarios:
-when parking at the store/supermarket etc.... just to make shure I'm in the right spot, in between the lines, and may protect the lower front bumper where the sensors may fail.
-when approaching any drive thru, I can get the closest to the window without banging the rims, some drive thru have narrow and sharp curves
-every time going into my garage
-parking between two cars next to the curbside
In summary, for me this feature has keep my tires/rims in perfect condition, not a scratch in almost 3 years driving it
may choose this option again in the M3 just because I'use to it