How often depends on how you drive it. I have 205,000 miles on my E46 and I am now getting ready to replace the original rear brakes - yes, that's right (I'm the original owner). I drive mostly highway but use them aggressively only when necessary. I did the fronts around 115,000 miles if I recall.
Note: I did replace the BMW pads right after I purchased the car new with low dust pads and they've been in there ever since.
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