Finally done! I'm so happy. So much more room, and it looks great now!
Here's the whole console, with the new closing trim piece in place:
Disconnecting the wires from that phone cradle was a bit of a PITA, good thing I generally know BMW clip design, so I was able to pick out what kind of clip each was, and then used a sharp flathead to push the right clips holding them in, but it still took me a good 10 min I think to disconnect all 4 wires.
Here is the console now with the new tray in place:
And a shot with the phone fitting nicely in there:
