Hi nicollow,
The standard Z4M wheels are 18 inch diameter jobs. So the overall diameter will only differ from the 18 inch non-M wheels because of the higher profile tyre (if fitted).
The genuine CSL wheel is 19 inch diameter. But it's usually fitted with 235/35 tyres on the front and 265/30 on the rear. So the overall diameter is actually smaller than that of the standard M set up. Here's a link to a handy tyre size calculator that you can play around with to give you an idea:
http://www.tyresave.co.uk/tyresize.html
As far as I know, there's much the same amount of room under the wheel arches of all Z4s, so whether you go with 3.0, M or CSL sizes you shouldn't have too much of a problem. Plus there are quite a few non-M owners on this forum that have fitted M wheels and tyres to their cars without any rubbing as far as I know. Guiseley is one that springs to mind.
In the end I had a rush of blood to the head and broke my piggy bank for a set of Michelin Pilot Super Sports. I was able to get the standard M size for the for the front (225/45/18) but the nearest I could get for the rear was 265/40/18. It's only 10mm wider than standard and, according to the calculator, only 8mm bigger in diameter. Have to say I'm delighted with them so far.
But if I'd been able to get the right size, I'd have gone for Goodyear Eagle F1 Asymmetric 2 based on this:
http://www.tyrereviews.co.uk/Tyre/Goodyear/Eagle-F1-Asymmetric-2.htm
And, according to their website, Camskill have the standard 3.0 sizes in stock (drool at those prices compared to mine

). Here's a link to the page on their website:
http://www.camskill.co.uk/m61b2324s0p0/Car_Tyres_-_MPV_Tyres_-_People_Carrier_Tyres_-_18_inch_GOODYEAR_TYRES_CAR_GOODYEAR_EAGLE_F1_ASYMMETRIC_2_-_
Good luck with all that
