Final drive (3.91 or 4.10).
Personally, I would do s-pipe and mufflers. The s-pipe is easy enough to swap back to stock if they fail you.
The carbon intakes require an alpha-n tune, so you'll need to go back and forth with the tune as well. Rumor is that the ECU can only be retuned so many times before you're locked out and it bricks. I've heard of this happening with 3-series cars, but never on the Z4. So... don't take it as fact, but it's something to look into.
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