1addicts posted up a leaked BMW engine list:
http://www.1addicts.com/forums/showthread.php?t=457707
According to these guys the 'pyrat' is the 1M coupe, so it's power is listed at 340hp, but there's also a 451hp model listed as "US" model.
Some of the guys there speculate that the 451hp engine will actually be for the next gen M3, but that would be insane if the 1M coupe got that same engine.