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I am of the opinion that it is a new engine which will eventually find its way into the new M3. I base my opinion on the following:
1.) Why would it take so long to develop the 1M if all that would be non-stock is that suspension. Okay, I know this could take a while, but over a year? With the resources BMW has? As iveman89 mentioned, an N54+DCT is already in the 335is so why the wait?
2.) It would be beneficial for BMW to use a 1er as a test mule for the engine and also be able to sell it.
3.) From their experience with transplanting the X5M/X6M's motor into the next M5/M6, they will perhaps follow suit with transplanting the same engine from the 1M to the M3.
4.) If it is a new engine, the increase in torque perhaps would be too much for the DCT (which would be used in the next M3) therefore, it would make sense to develop the engine and sell it with a manual first in the 1M and then get the new DCT ready for the M3 launch and tune the engine to suit in the mean time.
If it indeed is a new engine, there would be little point in arguing over rev's, boosts and number of turbos. I assume it would take a similar format to the X5M's trick, patented, turbo configuration. But with the resources available at BMW, they can come up with anything.
Well, it's all speculation. But my 0.02...
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