2008 BMW Z4 M Roadster

Pros

Looks great, decent seats, excellent brakes, torque is amazing

Cons

Little storage inside, a LOT of brake dust, be careful with low front end

If you're looking at the Z4 and don't get the M, you'll be kicking yourself later ("I could've had an M"). Amazing car overall, plenty of power and pulls like a banshee at 4000 rpm which is great for overtaking. Not the quitest car with the top up, but not terrible. Excellent, thick steering wheel and the driver's position is fantastic. When new it is a little jerky coming off the line due to the clutch delay valve breaking in - a well known issue, but nothing major and mine went away after 5000 miles. You can't really use the sport option in town as it really makes smooth take-offs tough, but on the open road it is amazing. Instantaneous throttle response.
The Conti tires are ok, not great, and are not run flats (thank God) but you actually do get a lot of mileage out of them (expect 15-20,000 rear and maybe 30,000 front, depending on driving style). (When they wear out, switch to Michelin Pilot Sport PS2.) For the price, this one is tough to beat - head and shoulders over an SLK, and it's not one of 10,000 Corvettes you see every day.