I'm having the same problem with my car - a 120i registered in June 2009, currently has 7000 miles recorded. I've had the car since June 2010. The cracking noises weren't apparent straight away, but have ben increasing in frequency over the last 3 months or so.
The noise doesn't just happen if the car goes over a rough surface, it can happen any time. I'm wondering if it is the bodyshell flexing as convertibles are less rigid that a fixed head car. I previously drove SAABS and they were notorious for it, but I thought the BMW was a much better built car and far more rigid.
I think I'll follow your example and get it back to the BMW main dealer from whom I bought it.
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