I have leatherette.  No regrets.  Actually, considering how badly BMW's leather wears (least the newer ones), I'm glad I saved myself $1400.  When I getting my car, I was dead set on getting leather since it's a luxury car, but once I compared the two side by side, I could hardly tell the difference.  They didn't have the color combo I wanted in leather so I got the 'ette.  Best choice I made.