I run at the half way mark which is not much oil on the early models, only a little over 1.8 Litres.
It burns no measurable amount between changes at 2000 miles
I once worked out that if you run an 81-84 model at the full mark you have the same air space as a 78-80 model at half way. Not suggesting for a minute that anyone should run at the full mark but it illustrates that it's even more important to run no more than half way on the early models with the shallower pan.
Running at half way was actually sanctioned by BMW. In response to excessive oil consumption, an Aug 1990 BMW service bulletin citing oil churning and breather loss, specifically advised not to add oil until the level reached the minimum mark and then add no more than 1 pint.
That was a round about way of BMW saying don't fill above the halfway mark.