Zero cost options which would make me happy
1. 6MT
2. Imola Red!
3.
NO gas guzzler penalty
The costly stuff
1. About 375hp and at least 350 lb/ft (they are already at 330+ in other applications and you need some comfort distance to make the M1 special)
2. Wider track
3. More neutral handling (get rid of this crazy under-steer!)
4. CF anywhere you can to drop some weight.
5. Wider tires
6. It'll have to have an LSD if it's going to be an M
I'll guess that it'll be $52k base. The M3 coupe is $58k and since the 135 and 335 coupes have a $6k gap, I wouldn't be surprised if it's exactly the same in M line. It also makes sense if you look at the $16k difference between a 335 coupe and an M3 couple. Add $16k to the 135 couple and you get $52k.