Ok, that's 3 times you've said that, unless you have some serious inside source that goes against everything BMW has shared with the public so far, speak up and prove it, because you're rejecting what BMW is sharing with the public already! The E90/E91 3/4 series is for real, check out the MULTITUDE of photos and posts about it at E46fanatics.Com(More E46 folks there with a bun up their arse about it then you'd imagine..). If you want proof of the M2, and BMW's 1/2 series, go buy Automobile May 2004, where it has nicely spread on it's cover; THE M2. With pages of detail on 48, 49, and 50.
Here's a word for word quote from page 50, where they discuss the engine sizes they are planning for all the M classes:
"One concern of BMW's North American product planners is the engine lineup(1/2 series). The choice, at least initially, will be limited to four-cylinder engines. The 2.0-liter sixteen-valve unit in the 220i makes 150hp, and a turbocharged 2.0 liter is said to be good for at least 200 horses. (It is unlikely we will see the 115-horsepower, 1.6 liter four that's fitted to be the 118i or a brace of diesel engines). An in-line six-cylinder is vital for the U.S. market, so expect to see either a 230i powered by BMW's familiar 3.0 liter in-line 6 or a turbocharged 2.5 liter six making 250hp in the 225i. The only globally available six-cylinder is likely to be reserved for sporty M1/M2. With a 500 hp 5.0 liter V-10 due to power the new M5/M6, and a 400hp 4.0 liter V8 about to set the next M3/M4 on fire, a 300 hp 3.0 liter six looks like a logical choice for the M1/M2. The same engine would enhance the appeal of the still pending Z2. Available transmissions are said to include conventional five- and six-speeders, a five speed automatic, and an ultraquick six speed sequential manual gearbox with paddle-shift actuation."
That's of this month, so what do you know different sir?