Even if the M3 is stated to have 414 HP, most likely it will dyno at more than that. They want to keep a decent delta between the M5's 500 HP and the M3's #. Keep in mind that the M5 really makes more like 520-530 HP, so figure the real figure for the M3 will be 430-440 HP.
Automobile online says that SMG is dead and the DSG will be coming out at, or shortly after launch. See this from automobile mag online
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"There's no question about it, the M3 is one of only a handful of cars on just about every enthusiast's dream list for the last twenty years or so. The reason for that is simple: It uses the BMW 3-series-the best sports sedan in the business-as a starting point, and trims the fat even farther.
Since the first M3 debuted in 1988, it has grown in just about every way, and the new M3 is no exception. It has twice the amount of cylinders as the first M3 and more than twice the horsepower. Luckily, it doesn't weigh twice as much weight.
That means this M3 will be the fastest one yet. We're still waiting for BMW to release final numbers, but under the hood resides a 4.0-liter V-8 that we expect to make about 415 horsepower. That's 115 more horses than the twin-turbo 335i, which is already almost as fast as the last generation M3.
It used to be that quick cars made 115 horsepower - not 115 more than other ridiculously fast cars. Here's to wretched excess! Sign us up.
The car you see in these photographs is being shown in Geneva as a concept, but expect the production car to look the same. Changes relative to the coupe include the power dome hood, unique front and rear fascias, rear diffusers, a carbon fiber roof, and the vented front plastic fenders. In fact, the only body parts the M3 shares with the standard 3-series coupe are the angel-eye headlights, taillights, doors, deck lid, and glass.
The nineteen-inch, sixteen-spoke forged alloy wheels should make it to production, and we expect they will be connected to the high-revving V-8 by way of either a conventional six-speed manual transmission or a new twin-clutch unit a la DSG. SMG is, thankfully, dead.
But the M3 is very much alive."