Yes, it is still available.
This past week, I added a substantial incentive which has interested quite a few people. I agree, this is a great deal. Especially on the lease. Short term (16 months) $925/month with over 1,400 miles p/month left...and the peace of mind that comes with the Safe Lease warranty.
Then a low residual of $36,620 in May of 2011 if you want to keep it.
Should be a no-brainer for anyone looking for an M3 Sedan.