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I am planning on replacing my wheel bearings.
I see that the OEM bearing kits are way cheaper than original BMW kits($85)
on pelican parts. Does anyone have experience and advice about this? Are the cheaper ones ($28-35$ by FAG and SKF) just as good?

Nothing special about wheel bearings. Any reputable manufacturer and maybe some that aren't should be ok. Might, stress, might only last 75 or 100K instead of 200K+, but might last just as long.

FAG and SKF are both quality bearings. I think the OEM bearing is FAG if I'm not mistaken.

Thanks, I will go with the non-original bearings.

Since BMW doesn't make bearings they buy them to the appropriate size. I had to make an emergency repair to my CS Coupe at a parts shop near Mt. St. Helens after the mountain almost ate my spindle. Turns out the NAPA interchange said my bearings also fit some sort of common wheel assembly for a tractor. Worked fine, I gave up on trying to reach the summit after that.

I have some recent experience with this.

The FAG bearings are OE front and rear for the 530i/528i. The M535i had SKFs in front. The M535 shared bearings with E23s and all I could find were SKF, but I bought FAGs for the 530i.

For rears, I ordered a couple FAG kits from SSF and they came in a different manufacturer's box and while the photo on the site showed two bearings, two grease seals and a lock ring for the 30mm nut, it came with two grease seals the same size (not suitable for either side), a cotter pin and an o-ring. I sent them back ($28 ea) and ordered from BMW at $64 ea. the repair set is supposed to come with two bearings, two grease seals and a lock ring. The BMW kits came with two double-sealed SKF bearings and a lock ring.

They went in fine and were the same width as the originals, so I could reuse the original shims.