I am actually interested to see what BMW does with the upcoming M3/4...it feels like there are so many directions they could take. As long as it performs well, and it most probably will, then it will be a great car in its own right, just like the ones that have come before it.
The only thing I wonder about, as has been mentioned previously, is how big these cars seem to be getting...I like the relative size of the E46 M3 or the 135/1M...just feels right. The E9X Ms were starting to push it for me, and I am guessing the F M3/4 will be even bigger. Perhaps BMW has made the decision to make the M3 just a smaller M6 (aka more luxury based) and leave the frills out of the 1M/M2 (more enthusiast based) to suit the aims of different customers...we shall see...
Personally, I am even more excited about the 1M/M2, if it actually happens. The M3/4 is likely to be priced into another world, like 60K+ just to start, which is fine, but makes it less "reachable" for people. I really wanted a 1M last year, but wasn't able to get one...hope BMW doesn't do that again with the production numbers...it almost seems as though the baby M is taking the philosophical place of the E30/36/46 M3s....
Current - 2011 N55/DCT E82 135i--Lemans Blue, Gray Leather, M Sport, Premium
Past BMWs: 2008 E82 135 - AW, N54, MT
2007 E92 328 - JB, N52, MT, ZSP (traded in for 135)
2007 E92 328 - JB, N52, MT (retired by a drunk driver)