In a word, no, but it does need to be put into context. This particular car is a demo model, with a dream specification conjured up by BMW GB to showcase the entire range of fully approved AC Schnitzer performance and styling goodies - BMW isn't really expecting any customer to match the spec of this car.

It's interesting to see how this 330Ci got so costly, though. Firstly, you take one 330Ci automatic (΂£29,210), specify sat-nav and leather, then provide additional 'shock and awe' by fitting every AC Schnitzer add-on in the catalogue. Major stuff includes a revised suspension package (΂£990 plus fitting), 19in Schnitzer alloys (΂£3510, not including the tyres) and ΂£8K's worth (excluding fitting and painting) of assorted styling products. But for evo readers the most interesting addition resides in the engine bay, wherein lurks a low-pressure supercharger.

Priced at ΂£6575 plus fitting, it's been developed by BMW Motorsport Team Schnitzer, and employs a centrifugal-style blower that lives beneath a carbonfibre airbox, where it boosts at a modest 0.35 bar (5.1psi). Such low levels of puff mean an intercooler isn't required, so aside from a revised inlet manifold, a stainless steel sports exhaust system, an ECU remap and a beefier clutch on manual transmission cars (an extra ΂£150), the rest of the powertrain is left untouched.

Topped off by a carbonfibre cam cover, the motor looks very neat and the package is certainly effective, increasing power from 231bhp to a healthy 295bhp at 6700rpm. Torque output makes a similar leap, jumping from 221lb ft to a meatier 277lb ft at 4800rpm.

On the road the 330Ci's firepower moves onto another plain. BMW claims a 0-62mph time of 5.6sec for the manual supercharged Schnitzer, compared with 6.5sec for the stock 330Ci and 5.1sec for the M3. As tested, this auto version stops the clock at 6.1sec, matching Jaguar's XK8 and giving the Benz CLK500 (6.0 sec) good reason for concern.

Once you've slipped into the red leather seats and admired the AC Schnitzer carbonfibre interior, a deep throb from the oval tailpipe greets your turn of the key. Low-speed driving is hassle-free, with Schnitzer's ECU remapping faultlessly matching the supercharger's delivery to the auto 'box, allowing smooth shifts and flexible progress. But tap the gearlever to the left, into 'sports' shift mode, and the conversion's full potential is revealed. This holds the gear ratios until the red line, where the engine is an aural delight, melding the barely discernable whine of the supercharger with a spine-tingling bellow from the 3-litre straight-six. Above 3000rpm it packs serious amounts of thrust, giving credence to BMW's claimed 50-70mph figure of just 6.7sec and 165mph top speed.

The chassis, complete with AC Schnitzer 'sports' springs and dampers, veers between triumph and tragedy. Let's start with the good news - the suspension package is well damped, surprisingly compliant over lumpy tarmac and a better everyday proposition than an M3. It handles the extra power admirably; even in streaming wet conditions the DSC light only flashes when severely provoked. Disable the system and it's still a real effort to unstick the rear, such is the grip of the wide 265/30 ZR19 rubber.

Sadly the steering calls these big boots, and the glitzy 19in rims to which they're mounted, to account. You can't knock the helm's meaty feel or its granular levels of feedback through smooth corners, but add typical B-road bumps to the mix and the plot unravels. Over this terrain the steering requires constant and wearisome corrections to maintain a correct line, even on straight sections.

As eye candy the wheels are a surefire winner, but in a country where the roads are more turnpike than Teutonic in quality, they're a dynamic liability, inducing staggering levels of tramlining and steering kickback. This restricts cross-country pace to the point where a standard 330Ci - let alone an 18in-wheeled M3 - would leave this car for dead. Shame.

My advice? Place substance over style. Cherry-pick Schnitzer's 330Ci additions, and stick them onto a manual base model. Tick the supercharger option box, grab the handling package with both hands and stick to the 18in alloys. Then you'll be knocking on the door of M3 levels of performance, with around ΂£3000 to spare.

The remainder of the AC Schnitzer styling package is nice, but at too high a price, so thanks, but no thanks. Incognito and uncatchable? That sounds like fun to me...