Ok so after reading all these threads about clutch stops I decided to give it a shot... I have an 01 325xi (sedan) so I don't know how many other applications this will work PERFECTLY for but it should work on all begining E46's til mid 01 in the sedans. (the coupe may be a little different but not much and the post-mid 01's I don't know how much play you have with the magnetic switch so you should experiment a little). I ran to Lowes right by work and played around for about an hour on my lunch break until I finaly found the perfect things. You need 2 parts, no glue, and less then 30 seconds install time. Part #1 is in the drawers with all the other bolts, its called an "Elevator Bolt" 3/8" x 1 1/2" it is blackish in color (price $0.97). Part #2 is a few isles over in the adhesive bumpers for furniture, its called "Grippers" 1 1/2" Self-Stick the part # is "7384" from SoftTouch (price $3.04). The grippers package has 8 little discs in it so you can make 8 clutch stops
Assembly: Take elevator bolt out of package. Take 1 disc out of package. Remove sticker covering adhesive from disc. Center disc on elevator bolt and press on.
Installation: unscrew your factory clutch stop by hand (the black thing behind your clutch pedal on the floorboard). Screw in your newly assembled one all the way (just hand tight you don't need to wrench tighten it it isnt going anywhere)
You're done. No glues, no mess, etc. This setup is the perfect height, it doesn't require any adjustment of the clutch switch for the ignition (my car doesn't have cruise so can't test that obviously). The best part about this is it looks a lot more professional then most of the homemade ones i've seen pictures of on these boards. Enjoy.
Being less then $5 and less then 30 seconds of install time (and probably less then 2 minutes of shopping time now that I told you all the part numbers) you should have NO reason to not go do this right now... I was kinda skeptical but this has been the best mod for the money anywhere.