You might sing a different tune, saltshaker, if gas continues on it's upwards trend. I'm expecting $4/gallon this summer, probably never again dropping below $2.50/gallon unless something drastic happens with the petroleum industry.
If BMW could build a hybrid that drove the same as my current E46, I'd consider buying one. Things I don't want to see in my BMW hybrid:
1) Euro size like Honda and Toyota are releasing.
2) Noticeable loss of power. Keep the HP/Torque to around the 200/200 range.
3) Removal of that fun driving spirit. I like my suspension and handling characteristics.
4) Ethanol optional engines. Ethanol is a waste of energy, literally. Don't waste money on something "trendy".
If they can meet these goals, I'd love to see a Bimmer hybrid.