This tool is the perfect companion to your E46 M3 S54 valve adjustment. It's a double-ended tool - one end is magnetic for easy removal and placement of the valve shim. The other end can be used for micro adjustments to the shim to get it in the perfect spot. This is the factory BMW valve shim tool.
BMW Fitments:
3 Series
E46 (99-05) > M3
Z Series
E36/7 / E36/8 Z3 (96-02) > Z3 M - S54
Z Series
E85 / E86 Z4 (03-08) > Z4 M