Indeed there is more of an element of 'balls' on the road. I have seen people racing on the wrong side of the road on a blind corner before now just to get the upper hand, doesn't matter how fast my car is i will always 'lose' to someone like that...although i am sure they will lose big time one day... On the track once everyone is used to the circuit and conditions it is down to driver skill and then the car. Indeed it can be frustrating when a V8 powers past if you let it annoy you but thats not what track days are about, if you are having fun it simply doesn't matter. I look to have some tussles with similar cars and then when back to the pits have a chat and a laugh with the other driver, thats what its all about.
With the traction on the M135i is very dosile. In fact this vid shows it perfectly
The big restriction is traction in the cold winter or when it is wet (especially when turning with the power on) but this is the same for any rear drive car to a point. Any decent four wheel drive car will destroy it in these conditions. For an all round every day car i cannot fault the M, i have owned many nice and fast cars over the years and as an all round package the M is the best i have owned.