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I would say go for it and don't worry about the LCI model. You can't wait forever and still miss the next BMW update.
I drive exactly what you are thinking about getting. It's a good car and rear wheel drive is always a blast. However, after a year and 9 months ownership I am a bit board with my car. Don't get me wrong, it handles very well, took on the Nurburg ring in 9 mins 28 seconds. And can take a serious beating around a track. However, on the day to day drive it get a bit samey.
Next car is 12 months away but I am seriously considering switching to Audi and getting the 4 Door S3.
Just to be clear, the 1 series is a good car. No major problems and really well built. I am only expressing my view. I am sure you will enjoy your 118i very much indeed :-)
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