I was wondering if having the charging level in my 530e set to "max" might affect the life and/or degradation on the battery?

No.

At Max you will be charging at a maximum of 16a provided the charge point supports.

 

Not in that car. I presume the feature is there to avoid overloading 3 pin socket charging, because Type 2 sockets should take care of their own power settings. If you use a 3 pin it is best to use the lower charge rate setting if you have time enough to wait for it to charge.

For example; the one and only time I ever got a public charge with the Ampera was when I was staying at a hotel, I spotted there was an outside socket. After receiving permission to use it, but not knowing what its condition was, I set the car to the 6A charge rate. It took 12 hours but was no issue as I, literally, had all night to wait!!! I checked it after one hour of plugging in and it was completely cold to the touch. Had it been 10A setting it would have definitely been warm and might be giving a tired old outside socket a hard time, which would have been unnecessary.

 

No.

At Max you will be charging at a maximum of 16a provided the charge point supports.

And using the granny charger, Max means only 10 amps. You can drop it below even that if you are worried about the condition of the socket or house wiring, but 10 amps on a good circuit should be fine.