You need to increase the volume setting on the iPhone (side keys) to a higher level while on a call using your car BT system. You will probably find that the volume on the iPhone is close to the minimum (but only for your BMW BT settings). I discovered this today, and after setting the volume (again, on the iPhone) to 3-4 notches below max, I now have perfect audio immediately when the far end answers. Before doing this, I had exactly the problem you described (2006 530xiT).
After you set the volume via the iPhone, the iPhone will remember this setting for future calls. You will also notice that you can now adjust the volume up and down via the car stereo volume controls.
After adjusting the volume on the iPhone, I tried the supposed WiFi fix (turning it off). It did make any difference. On or off, the audio quality was no different.
The issue seems to be having the volume set too low on the iPhone.