I'm coming in real late here, and kinda skimmed read through the last few pages to see what you were posting. Your smoking issue? Where is it coming from exactly? The S63 is well know in earlier iterations to have issues with the valve stem seals (which you mentioned), the valve cover gaskets (which you've mentioned), turbo seal issues and myriad other issues.
On my last F10 M5 I had terrible smoking issues, basically went through the same procedure as you. One thing I did which helped with a lot of the smoke issues and the oil in the turbos was to replace these two o-ring gaskets on the turbo inlet housing, where the air intake system meets the turbos, not sure how to describe it, but basically at the front of the turbos as you look into the engine. I replaced those (after having done HPFP gaskets, valve cover gaskets, seals, and a few other things) and it dropped the smoking a lot. But didn't stop it.
But if you're battling to get to the root cause here, you can probably bet a small dog on it being valve stem seals. If they haven't been replaced before on your car, with that mileage, they are probably the reason you're still having issues. My understanding is that it's an engine out job due to the restrictive nature of the engine bay. It took me forever just to get the valve covers off when I did mine. Nearly cost me my marriage.