Other companies have been doing it for a while now, the Lexus LFA for one, as well as some Jaguar models and the Mercedes-Benz rivals such as the S-Class. BMW has apparently kept things simple with the display though, and has tried not to over-complicate things.
BMW's have been renowned for offering too much flexibility in the past, but the LCD cluster is said to be simple to adjust while still offering plenty of flexibility. The speedo and tacho will be customisable, as will other features, such as the placement of the sat-nav and multimedia functions and displays.
The new layout is said to be headed, initially, for the BMW 7 Series in 2013, and then a year later in the next BMW 5 Series.