I am considering re-covering mine as well, but only the top half. I have a 2009 M35, but I believe the dash is the same from 2006-2010.
I have done some preliminary exploration just to see what will be involved if I move forward with this project. You will need trim removal tools:
http://www.ebay.com/itm/Car-Interior-Pa ... 99&vxp=mtr $12.00 shipped.
Do NOT think of using screwdrivers, putty knives, spatulas, etc because you will surely damage or scratch the cheap plastic trim pieces or the shape of the dash around the trim pieces.
Here is what I have found whilst testing the removal of the dash pieces:
Just about every piece of trim on the dash is simply clipped on. Two exceptions: The long passenger trim (wood or other) has 3-4 screws on the under side that are accessible after removing the glove box door. The rest of this piece is clipped like the other wood / other trim pieces - they pull outward toward you if you start at one corner and work the tool along the sides. The other exception is the L and R side air con vents. They are clipped in, but also have a screw that is hidden under the plastic pieces that snap into the sides of the dash. If you put the steering wheel all the down and forward, the speedo trim pulls out toward you. The speaker grille in the center of the dash pops upwards in the front, then pulls toward you. Then, simply pull on the trim that includes the center air/con vents - it comes out toward you. The defroster grilles are also clipped. Start at one end, lift upwards, then follow all the way down the front. The grille slides upward to remove it. You have to unplug the sensors at the edge of each grill to remove them completely. After this, all that is left is the dash with holes. At this point, I decided I would NOT remove the actual dash - too many points of attachment, to many wiring harnesses, etc. Then there is the sheer size and cumbersome shape.
It took me maybe 45 min to remove everything, including searching for how each piece is snapped or screwed. After getting that far, I could see how it will be easy enough to cover the dash in leather-like material or suede. However, when it comes to actually shaping the new material around the speedo hump, etc I will need to find a material that is flexible and stretchable to a degree and will probably need a hair dryer or heat gun to aid forming the material around edges, etc.
I also found a video on YouTube that shows pretty clearly how to glue the new cover in place without removing the dash:
https://youtu.be/ANE0dueAXSI
I have some other projects around the house I am into at the moment, but if I decide to do this, I will make a DIY with pics and links to everything I bought.