Wow, what a fun event to attend. I think the X3M is more of an accurate preview of what's to come in the G80 due to the drivetrain, and to see how impressive the latest M car is. And, besides the driving dynamics, the M division has a LOT of work to do on that 3 series interior to make it worthy of the hefty price tag it will no doubt carry.
Your disappointments with the M850i may be due to the fact that it was a convertible and...an M car in badge only
Finally, someone wrapped the M2C around a tree? These events might not be around for too long if that's the case.