That render looks pretty good. I do hope the M2 comes out looking somewhat like that. I also hope it has E46 dimensions.
I'm skeptical that it will come with a turbo 4. It doesn't make sense that the M235i would have a straight 6 and the M2 would have a turbo 4, even if the M4 has a turbo 6. BMW can always cut ~80hp from the M2 engine and further differentiate it by really turning out a great chassis. A ~340hp turbo straight 6 with a fantastic chassis would make this car fantastic.
edit: What if it came with a detuned version of the N55 derivative that is supposed to come with the M4? OMG, a ~450hp ~3200 pound M car, with nothing but a tune and bolt ons. If this happens, I'll sell my first born for the car.