There was some misinformation (or poorly worded info) in the other thread, so it's best we kick off a new thread with official photos.
Basically, the M3 receives LED tail lights and updated iDrive. All other mechanical components should stay the same and no information has been released on a Competition Package, if any. There should also be some new Individual colors.
The more minor changes are listed in mkoesel's post directly below.
For a list of all changes to the standard F30 3 Series, please see:
http://f30.bimmerpost.com/forums/sho....php?t=1124143
Visual comparison between post and pre-update: