There are only 2 sensors, 1 on the inside pad of the left-front, and the other on the inside pad of the right-rear, so they're only accurate if all pads are wearing evenly, as already mentioned. The nice thing about e32/e34 brakes is the outer edges of the pads are recessed slightly and don't go clear out to the o.d. of the rotors. You'll notice there is a slight ridge on the outer brim of used rotors, and if they do end up going metal on metal, it's the pad's metal backing rubbing on the ridge, and not the braking surface itself. You do have a grace period when you hear the squeal, before damage is done. I would tend to it within a few hundred miles if that's the case.