Annual oil changes are not a good idea - unless you've got data that says your oil is good that long. It may be possible, but there's a lot more variables than just the oil itself, and IMO would be dangerous to just not change your oil for a year/15k miles without knowledge of that interval being OK for your particular vehicle, environment, and habits.
Modern oil and engines are much better than back in the day when the 3month/3000mi rule of thumb was invented. Pretty much the only people still pushing the 3k interval these days are oil change places like Jiffy Lube.
Bobistheoilguy is a good resource, as mentioned.
Some vehicles have actual sensors that monitor oil status (pH basically) and use that to determine when to turn on the oil change reminder. I'm pretty sure the 5 doesn't.
If you want to extend your oil change intervals, and know what's going on inside your engine, I recommend an oil analysis service like Blackstone Labs. You take a sample of the oil that you drain during your change and send it to them, they analyze it (about $17 postage included, IIRC) and tell you the status of your oil. The report includes any wear metals present, presence of coolant, pH/remaining detergent levels, etc., plus an estimate on how much "life" is left in the oil. So you can start with 5k mile intervals, and increase that number when Blackstone tells you that the oil you just sent in was only 60% "used" for example.
My wife's 4runner went 8k miles on its last change, and will be going 9k miles this change. Some of my older BMW with high mileage need 5k mile intervals, so I stick to that on those cars. FWIW, I just did my first change in my 5 (at 5k miles) and will of course be sending in a sample to Blackstone to start the data collection for the mz5.