I have a wide sweeping 90 degree bend near me on a country road that has no bushes, so I can see what's coming the other side.
My experience in both the 335i (JB4) and M3 are as follows:
335i - Traction half off.
I found that trying to drift around I would need to be going quite fast. Eventually when I started to drift I was going so fast I bottled it and nearly ended up in a ditch. I braked and the back end snapped around leaving me pretty shaken up.
M3 - M Dynamic mode.
Car started to drift at a much lower speed and was very progressive. I felt more confident at the lower speed and with the torque being linear there were no sudden surprises. After completing my first ever successful drift I did some whooping for a bit.
What a great feeling.
What SteveC said ^^ is bang on.