What part is news to you? The part about the new M4? Based on what I have read through various car magazines, BMW's schedule should be as follows:
-All-new 3-Series Sedan released as a 2005 model.
-All-new 4-Series Coupe (3-Series version of the coupe, will be dubbed as 4-Series, rather than the current "3xxCi") one year after new 3-Series Sedan.
-M4 release a year after that, utilizing the E39 M5 engine (4.9 liter 394hp V8).
This schedule may move faster or slower, depending on many factors, but hopefully my info is decently accurate.