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My guess is around $60K for a well loaded E89.
As to M-version: why? Put the Dinan firmware into the N54 engine and this car should get near 4.0 - 4.3 zero-60. Assuming decent underpinnings and sound handling, would predict that - right out of the box plus Dinan tuned - it will do anything you'd want a car to do outside a track setting.
In these tight times, not easy to see what BMW would add from the parts bin to justify an M label and much doubt any R&D would be invested for such a niche market. BMW did have opportunity to tune up the N54 in the 3-series and has chosen not to, so rumors of a BMW-sponsored firmware upgrade are so far just that.
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