That is a project, very nice.
I set a LINK in my forum.
BMW M-Forum.de - Ein Treffpunkt und Diskussionsforum für alle BMW M Fahrzeugbesitzer
I know in germany a race car, who has the V8 M5 engine in an M3 E30.
The car has 450BHP.
The next is coming the M5 E60 with the new engine with 575BHP.