With lots of use the "feet" eventually wear through. The most common mode of failure though is that water gets inside them and rusts them out from the inside. I've never done it myself but I've heard of people filling them with expanding insulation stuff and/or other materials so that water can't get in.
Another option (what I have on my K75) is to install a center stand from a 4 valve K bike because BMW changed the design so it wouldn't get water in it. (I suspect due to the rusting issue.)
4 valve center stand:
(http://www.kbikeparts.com/p/sm_jpg/4vsidecenterstand.jpg)