Obviously weight reduction is a huge factor, but if you're already planning on a better (track worthy) suspension setup (sway bars, coilovers, super light weight wheels/tires, etc.), then why not just add a piggyback like the PROcede v2 with your new suspension, and you''ll be the one demolishing most of the cars out there.
I believe this has already been done by a few members of E90Post.com, like leftcoastman, I believe...do a search.
EDIT -- saved you some time; here's his thread...
http://www.e90post.com/forums/showth...t=leftcoastman