Yea Baby! http://charlottesville.craigslist.org/car/773959328.html
No affiliation...
I know Aaron, the guy who owns that car, and have seen it up close. He did a real nice job on the conversion, it's essentially been converted into a euro spec M535i along with the V8/six speed drivetrain. You can see more pictures and a video at his website at http://www.bmwe28v8.org/ in the Media section.
I believe he's put a quieter muffler on the car since, but when he first got the car together it had a fairly minimal exhaust system - the thing sounded like a NASCAR car.
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