When I set out to drive the Z4M I had two questions in my mind; would it feel like a Z4 or an M3? And had M Division developed a better car than BMW had been selling up to now?, namely the BMW Alpina Roadster.
The Z4 up until now suffered from two main problems, the EPS steering felt lifeless and it's weighting and un-weighting in a corner felt very artificial (rather like a playstation force feedback wheel), secondly the front and rear axles seemed to operate slightly out of phase exaggerating the feeling of being a long way from the chassis pivot point. The version that Alpina developed and then built with BMW was improved in many of these respects, the steering is heavier and doesn't adjust its weighting when cornering, but the chassis was mainly improved by the fitment of non-runflat tyres. The Alpina that was used in the test was considerably enhanced by the Sport Pack which provides a more dynamically stable platform for cornering but leaves it a little on the firm side if diving on less than smooth road surfaces. The reason why the Z4 feels slightly out of phase when cornering is due to the spring rates used to compensate for the runflat tyres, the springs are very soft at the rear causing quite a lot of geometry change when loading up in a corner. For example, if you measure the alignment on a Z4 without being loaded it's a full 0.5 degrees less than when it's loaded with a passenger and some luggage. That's a lot of variance and this also seems to cause a lot of toe change at the same time.
M Division obviously started with more of a clean sheet although I believe they used the same chassis pick up points as the normal Z4, but the springs, dampers, roll-bars etc are all unique. Although you're still sitting behind the pivot point on the Z4M, it now feels natural and doesn't cause any issues. It doesn't feel like an M3, but then neither does it feel quite like the Z4. Also the steering is now much heavier and more linear although I found it to be a little too heavy and the rack felt slightly damped in its motions. But that's just a minor characteristic that some people wouldn't even notice. Essentially the Z4M now feels 'sorted' whereas before you would drive a Z4 and wonder how BMW had sanctioned such a car that feels so different to the usual BMW DNA. The Z4M no longer tramlines as the old Z4 used to, it rides better even than a Z4 on non-runflats and yet has far better body control, with very little bump steer.
Compared with the Alpina the Z4M feels initially softer, but when we drove them hard around the Nurburgring we found that the Alpina would allow the tyres to make slight contact with the inner wheel arches, whereas the Z4M's initially softer feel became progressively firmer as the load increased. Both Alpina and Z4M have considerably better gear changes than the Z4, a nice mechanical but precise feel, although the Alpina's was slightly better. The engine pick-up in the Alpina reflects the fact that it has 3.4 litres compared to the Z4M's 3.2 litres, but I was impressed by how much more torque the Z4M had compared to the E46 M3. The Z4M pulls harder at the top-end of the revs than the Alpina, and is overally 'slightly' faster, but the Alpina offers a more relaxed feel to a journey, whereas the Z4M offers more rewards at higher speeds. That doesn't make the Z4M highly-strung, just that in contrast to the Alpina it offered a more thrilling characteristic. The Z4M was much more torquey than the Boxster S for example.
Comparing the Alpina and Z4M we preferred the Alpina's steering (slightly), the Alpina's gear change was slightly better, the Z4M's engine had more capabilities and the Z4M's chassis was more accomplished and better developed. Overall the Z4M felt like a very complete car whereas the Alpina felt like a slightly earlier version.
I haven't driven a facelifted non-M Z4 and I understand from speaking with those who have that some of these improvements (ride quality, lack of tramlining) have been passed down the rest of the range, but the Z4M is still a league above the regular Z4s and now one of the best cars to drift that BMW currently makes.
I hope some of that helps.
Steve