I prefer the looks of the 1 series compared to the 3 series, but that is all subjective anyways. What sold me to the 135i is the fun factor in driving it everyday compared to the 3 series. While the 3 series is more appealing to eyes of the masses, I couldn't help but feel that I was driving a 5 series in retrospect to the e46 chassis.
Oh and 200lbs is quite a bit of weight, especially once you start reducing weight on the 1 series if you plan going that far. Same day same mods, I would always trap 2-3 mph higher than similarly modded 3 series.