Nachob, agree with most if not all of your post and especially the part that I quoted below.
And don't forget that 1M is not only the last of the "hairy chested" M car, but it is also the "first" one after a long interval!
If done in a brave and uncompromising way the M2 can and will make the top spot in my next wish list. But, like you, I also believe that it is not very likely, with this base car F20 but let's wait and see. My guess, BMW will be totally concentrated in i8 and its versions in terms of bringing a novelty to the market.
For now, the Alfa 4C which will be ready for sale in a year or so (Summer 2013 according to most recent reports) and will stick with a 1M level price tag, a sub 1000 kg. (around 850 to 900) weight, extensive use of light materials, a race suspension, mid-mounted and ultra efficient engine (4 cylinder, 1750 cc with up to 300 ps expected) and rear wheel drive with a striking body work is still the only approaching ride (or its spyder alternative) I am expecting to be seriously tempted by and at least in theory that could convince me to sell my 1M.
The 1M used prices will fall soon (maybe already started) but will remain quite stable after that natural drop imo. Like the stock exchange, owners who do not plan or willing to keep it long time better watch these trends and not find themselves in the middle of a panic sale
So a lot depends on how the M2 is built but I'm not hopeful. I was dissapointed so many 1Ms were ordered fully loaded and the calls for automatics. BMW has to make their customers happy so the M2 will have all the fluffy stuff optional or included...... and that is exactly what will make the 1M special and relevant.