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Stock Cayman S 2954lbs/295hp = 10.0 lb/hp
Stock 335i e92 3584lbs/315hp = 11.4 lb/hp
A stock Cayman S should be a noticeably quicker car, if you're only concerned about straight line speed. Otherwise, well it's a light sports car and the 335i isn't.
Mods:
So far, you're only going to get 15 more HP from the Cayman with electronic tuning alone. They typically just reflash the Bosch Motronic ECU for ~$1000. That's an additional 15hp for $1000.
TechArt, Orton, et al Cayman S 2954lbs/310hp = 9.5 lb/hp (ECU reflash alone)
Procede v2 335i e92 3584lbs/425hp = 8.4 lb/hp (piggyback alone)
Next hp-making upgrade for the Cayman would be the headers, which gives you 10hp more. So in the current market, you're looking at a getting mere 25 hp over stock for your $4000. (Maybe Vishnu sees some opportunity here)
Way off topic, but was reading about an interesting engine swap for the Cayman being done by Orton. It's a low-boost 3.8L (997 S engine?) twin-turbo making 550 HP. That's 5.3 lb/hp.
For reference, a Corvette Z06 is 3132 lb/505hp = 6.2lbs/hp.
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