Thanks Matt, that was very helpful. According to those numbers the badge on my car is about 5 mm too low. I've updated the template accordingly and replaced the original PDF in the OP with the new (hopefully correct) version.
One thing that I'm still a little confused about is that in BSM 135i's photo it looks as if the cut out is not only too low but also somewhat crooked. Maybe that's just an optical illusion, but it would still be nice if someone could confirm that the template fits with their factory badges.
Here's a screenshot of the updated template with a virtual piece of tape: