I did this swap and responded on a thread here:
http://www.318ti.org/forum/showthrea...925#post361925 I really liked the change, definitely made it a better highway cruiser.
Also, you are going the correct direction, a 2.93 will lower you RPM's for any given gear and speed. The ratio is input rotations to output rotations.
I swapped in a 2.93 LSD out of an 87 325es so I can't comment on using a e28 diff, but the e30 diff was just bolt in when using the half axles from the e30.