Art, I have done somewhat the same as you are thinking of doing, i replaced
the 5W parking lights with these LED's.
Positionslys 3W/5W SMD 5000K (CANBUS) - Astina.dk
Due to my still not taxed car i have not had it on the road with these bulbs yet, but standing in the garage there is a realy big difference between these & the
original 5W bulbs, original is almost yellow compared to these.
Unfortunately due to the fittings used for the parking lights, these LED bulbs are the brightest available ( at least what i have been able to find) otherwise i would have bought a pair of these:
Matronics - Hvid SMD LED pære - 12V (21Watt) 7440
They are rated an light output of 21W, which should be more than enough
as DRL.
I have measured the inside of my headlamps, and there should be space for a bulb that is up to 9 cm. long.
If you want to make your DRL legal, you will have to get a DRL module that
automatically turns your DRL on when engine running, and turns DRL off again
as soon as you turn on your parking lights or low/high beam.
Out of the back of my head i believe the parts must be E87 approoved.