ok, an M3 finally rolled into the shop (after weeks without seeing one and i checked it out trying to see if what i posted was right, and the only thing wrong with it was that the oil cap is actually directly above the intake cam, not the timing chain like i thought. I had the cap position confused with the V8s which is above the chain by about 3mm.
It IS possible to get the sock wrapped around the cam if enough of it is hanging down, as stated