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I pretty much figured their would be no Z4 M with the new model.
Not surprising really since the N54 engine is easily tuned to make equal horsepower to the 4.0 V8 anyway (and a bunch more torque than the V8)
Couple that with the fact the NA V8's is most likely going bye-bye in the next M3 (2012 MY), AND the terrible sales they had with the prior Z4 M and it was a no surprise they would not put the V8 in the new Z4.
As I've said, make the next M 3 series with a TT 3.5 I6 that revs to 7500 rpm and weighs 100 lbs less than the current M 3 series and then they can put that engine in the next Z4 M and it will sell.
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