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Well, I don't have the turbo version, but my wife tracks a souped up manual 128i and I track a Z4m.
I did the required upgrades to the 128...suspension, camber plates, 3-stage intake, headers, exhaust, and tune. If you believe Active Autowerke, the car is putting down 248hp and 225tq at the wheels.
I play around with both on the track, obviously very different cars. I offered to get her a Z, but she didn't like sitting so low and far back. She does about 15 track days a year. The running costs are pretty low compare to the Z. I've not had one issue with the car. She has a blast and that's really all that matters.
The 128 is not as fast as the Z in the straight, but it does pretty well in the corners. I catch stock e36 M3s all day. Perhaps if I ripped out the interior and poured some money into upgraded brakes, I could shave a few seconds per lap, but she likes it like it is, so I'm leaving good enough alone.
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