Yep, as Dack mentioned I'm running the 235s in front and 255s in back with no issues. I'm running the style 269's with the E46 offset, and as an even further bonus the E46 wheels are just a tiny bit lighter than the 1er's. Here are the specifics:
Front: 8 x 18 ET 47 with 235/40 Michelin PSS
Rear: 8.5 x 18 ET 50 with 255/35 MIchelin PSS
Link for some great info on BMW wheels:
http://felgenkatalog.auto-treff.com/
And part numbers are here:
http://www.trademotion.com/partlocat...subcat1=138715