Now we have seen what it looks like....

[Color]

Like some mention here, I think they won't announce an M until 2010++
The initial Z4 started production in 2002, and it wasn't until 2006 (?) that the M got into production. More or less when the facelift was made?
That's about four years after Z4 production start if I am not mistaken on my numbers.

My hunch is that in the meanwhile they will be secretly playing around with an M prototype, and make the decision about entering production or not once the financially tight market have loosened up.
There might be an M3 V8 engine upgrade or even a 2009 Z4 facelift as well before we see the M version.

The first generation Z4 saw 6 years of production. A lot can happen in such a long time.

 

[Gauss]

The Z4 M Coupe is pretty much the best kind of Z4 you can buy. On top of that, I don't like the look of the new models. So I'll be keeping mine. The value has dropped so low anyway that it's pointless to sell, I don't need the cash.

 

[Adam D]

You can get a 2007 3.4 boxster s for mid 20's now, would rather put my money there or into a Z4M roadster than buy the new car.