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Enough of the 'how-it-looks' blather. The mechanicals will tell whether this is success or failure.
If it has (as projected) non-M-DCT, N54 mill, magnetic shocks, and a quasi-locking electronic rear end ... and if it can keep the weight down under - say - 3400 or 3500 ... this will be a clear advance on the existing Z4 and Z4-M, just as the existing Z4 moved way ahead of the Z3, the latter built with E-30 suspension.
The folding hard-roof is a major plus. Coupe or roadster? This gives both, just as the E93 is a slick convertible and a very nice coupe. Added weight? Maybe a bit, but probably nowhere near the 300# plus-up in the E93 and many weight-saving opportunities in the rest of the car.
And the N54 is so strong and has so much torque that whatever additional weight comes from the tin roof will be negligible and unnoticeable in real-life driving. Add Dinan Stage II firmware to the powerplant and tires/suspension will be the limiting factors on speediness, not weight. Face it: the new M3 should be a real pig at its weight, especially in E93 configuration. Drive one, though, and see that it really flies and handles like a real M - everything else just blows weight away as a factor.
The E89 gives BMW two huge opportunities: to get a 'real' sports car on the road (like a Cayman or a Boxster, not like a Miata or ... wait for it ... a Z3); and to put a Z8-like exotic into the price range of many more buyers. This is starting to look like a home run.
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