I found a good Read on the 1M from WSJ's Dan Neil Here.
The write-up is funny and engaging but Dan needs to correct some facts:
1) The BMW 1M and the M3 do not have an electronic limited slip. Only the 135i does. A mechanical limited-slip is far superior and it is the performance driving enthusiasts really want.
2) The 1M is not 77 lbs lighter than the 135i. The BMW Owner's Manual lists the 135i at 3,298 lbs. At 3,362 lbs, the 1M is actually 64 lbs heavier than the 135i.
Yes, "...at corner exits, it pulls like hell," and that's not always a good thing. The 1M has a bit too much torque down low and if you are anywhere close to the limit of adhesion coming out of a turn, you could easily end up in a power oversteer situation.
Styling is totally subjective but I disagree with this assessment. To me, the 135i always looked like a car whose rear had been chopped off without regard to flowing design. The 1M has the same dimensions and proportions but the flared fenders and aero bits go a long way and give the car a purposeful look from any angle. Big fenders and tires make any car look better!
The 1M is very capable right out if the box and a great platform to work with! I enjoyed Dan Neil's read but I am a bit baffled by some of his statements. Someone with his experience and vast knowledge should know better than that. Maybe his Car Show commitment only leaves him with little time to do a well-researched write-up.