That's from Oct 2006. I bet that was a test mule for putting the twin turbo N54 in a 1 series, prior to the announcement of the E82 135i coupe (which was announced 6 months after that article was written/picture taken).
It would be cool if they did the N54 powered E88 or E87, but I can pretty much guarantee that if they did, it wouldn't come to the States.