In the spot next to the 12v port? nope - phone is too long
On the console next to the shifter? nope - slides all around
On the passenger seat? yah, follow the GPS when it's on the seat
So I searched for the solution and this was recommended by a friend - the Mountek nGroove Snap Magnetic Vehicle Mount for Mobile Devices with Yellow Safety Sticker for less than $30!
Ok - yes, I know, it has the HANDS FREE sticker - but that's fine with me! It's been a law here in California for 2.5 years, and everyday I see people texting/calling, etc on their phones. So this is a GREAT solution!
What's pretty neat about this setup is the big yellow sticker has a magnet underneath! And a few metallic plates come with the mount and you slip those plates inside your smartphone case - and it allows the magnet to hold your phone - almost 'levitating' in the air using your CD slot.
At first when I mounted it, it was way too low and covered much of my radio/GPS screen in the E55. But the mount rotates 360 degrees, and I flipped it 180 and it sits pretty much in between the heater controls and I can still see the screen below. I have the Google Maps app running (so much more accurate than the built in GPS) - but I could also use my Dash Command to monitor the vehicle metrics while driving as well!
Overall, highly recommended! If you're looking for a nice mount that can hold your phone/tablet - this is it!