I'd go with 17" wheels just because tires are generally cheaper. The 17x8.5 ET40 with 245/40R17 tires will probably fit fine in the front, but could rub the fender in the rear.
As far as brake calipers are concerned, I think the 135i calipers will clear most 17" wheels. Mine clear my Style 68 track wheels but just barely. Not sure about the F30 calipers though...
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2011 BMW 135i ///M-Sport, DCT
Bilstein B12 kit, Dinan camber plates, M3 front control arms, Whiteline poly RSFB, MHD Stage 1, cp-e Charge Pipe, H&R Front sway bar, BMW performance diffuser
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