I like the look of the sedan much better then the wagon.
The rear of the wagon is just lacking character, although I like the lights intergrated in the rear bumber. Maybe the spoiler like TexP5 said would add some character, but otherwise it looks too much like a Focus. The interior is very sharp, especially the hide away NAV. IMO though it lacks uniformity, the gauge cluster is very modern and agressive like the Matrix, but the center console and shifter is very refined like something you would find in a luxary car. The two just don't go together. I dunno, I am torn, but I think the M6 Wagon first. It cannot be that much more then the 6 sedan. With the redesign, I bet the M3 will carry a price 10 - 15% over the P5.