[DKX4///M]

There are so many variables; track, traction, temperature, driver, natural variations between cars. Your trap speed in your case would probably give you a better idea of what ET's your car should be doing in ideal conditions, with proper launching/shifting.

Of all your questions, the easiest to answer is "shift points"...As the S65 Engine makes peak HP the higher the RPM's, you want to get as close to redline as possible. Obviously the more time you spend in the strongest stock power band 7800-8400, the better. Shift as fast as you possibly can, duh. As you get used to the gearbox your shifts will become faster and more precise, the speed you shift can make a tremendous difference in ET's as well as traps...

Launching is more difficult. OEM Michelin PSS tires are grippy tires, heat them up as much as possible with a good dry burnout, and slightly lower tire pressure. Exact PSI is a trade off as the lower you go, the better launch but the more "rolling resistance". You can find a good middle ground with trial and error.

Launch technique is personal preference. Some of the best launches can obviously put the most stress on the drivetrain. I can't speak for all drivers, but I could say a common technique would be to hold the RPM's somewhere between 3500-4000, and release the clutch allowing for a little "slip" while slowly increasing throttle position. Once the car has some momentum and has ceased wheel spin, push the pedal through the floor haha.

iPhone apps like "pocket dyno" are useful tools for recording 60' times and 0-60 times, and thus improving them...

That's the best advice I can give. I am somewhat new to the M as well, but have a decent amount of drag strip experience, and have been building and tracking cars since 15-16 years old (29 now)...

I think I saw you had an O8, theres a chance if you have high mileage, you could be losing performance due to engine wear or "leak down/blow by", outdated software, bad plugs, wires, coils, air filter, etc etc...

What were you trap speed's and 60' times? By knowing these I could give you a more accurate range of where your car SHOULD be...