Wow, there's some great info here. Now I'm considering doing something like this.
The bimmer is geared extremely short (IMHO): final drive is 3.46:1
5-Speed ratios:
1 - 4.23
2 - 2.52
3 - 1.66
4 - 1.22
5 - 1
With 3.46, the final ratios are:
1 - 14.64
2 - 8.72
3 - 5.74
4 - 4.22
5 - 3.46
Being RWD, I can change the final drive to 2.93:1 (also avail 2.79, 3.07, 3.15, 3.23, 3.38). That would give me:
1 - 12.39
2 - 7.38
3 - 4.86
4 - 3.57
5 - 2.93
I don't think this is too radical. In comparison, the Firefly went from (correct me if I'm wrong):
1 - 15.00
2 - 8.31
3 - 5.62
4 - 4.01
5 - 3.32
to:
1 - 12.03
2 - 6.67
3 - 4.51
4 - 3.22
5 - 2.67
...which is still taller.
BTW, phase 2 would entail dropping in a 6-speed tranny:
1 - 4.35
2 - 2.5
3 - 1.66
4 - 1.23
5 - 1
6 - 0.85
With 2.93, I'd get:
1 - 12.75
2 - 7.33
3 - 4.86
4 - 3.60
5 - 2.93
6 - 2.49
Now all I need is to find the hardware.