Pistonheads is saying a 330 bhp turbocharged 3 Series will be a stopgap between the launch of the new 3 Series and the eventual arrival of an M3 in 2007. While we're always happy to hear about more powerful BMWs, take the story with a grain of salt. The technology sounds like a twin-turbo although the story doesn't call it that. It says "turbos" plural and one will work at low speeds, the other higher in the rev range. If anyone has more information on the turbo 3 please let us know.
Thanks to RF for the tip.