Versions designated as X35i will boast a twin-turbocharged (two stage turbocharging as in 535d) 3,0 litre I6. The peak power is expected to be in the 330-350 range. But naturally there is an enormous potential as the 272hp diesel can be easily tuned via ECU upgrade to roughly 350hp.
Next up is the V8.
The M version of the 1-series is unlikely to appear. And if it came up, it would be powered by a 300+hp V6 based on the current M5's V10 (four cylinders cut off).