Not sure why this discussion is on E46Fanatics? E46 was a 3 series that was last produced in 2006.
Anyway, not sure of your situation. If the car is a 2008, is your 48 month/50k mile warranty still in effect?
Maybe someone screwed up the VIN when ordering the key?
Assume your car is a push button start?
Good luck as we are only experts on the E46.
You might try some of the other BMW forums that cover your make and model?