Interesting! I never saw/realized that the shank of the valet and master keys had different lengths. Is it not just so that that key could be shorter?
Following your explanation, I must say that I fail to see then why BMW even made a 7th hole on some keys. if the difference between valet key and master key is not the 7th dimple, but the length is, then why?
I think the length that stick inside the lock is actually defined by the shoulder (the step just above the red and green shapes in the pic below), and not so much by the begin of round circle/grip section (your yellow lines).
I'm going to take a look at the few locks I have on my workbench in my garage this evening.
As to the point of the trunk and glovebox also having just 6 tumblers; could it be that they have 6 tumblers, but one position is left empty, and an additional 7th position is used in those cylinders?
As to the point of the location of the 7th dimple: I do think that the 7th hole is always in the same location on the key.
Any master key that I have seen, always has a hole in the the top of the left row (green square in my image). In the service key (right in the image), that space is never occupied by a dimple (red pentagon):
View attachment 196246
So this may be actually in line with the pics from Gerhard and both our observations as written in the previous posts.