Hi Vaughan welcome to the forum. I have gone down the route to eck out a little more from the 2.8.
As you say fairly underated for such a big engine but drivability can be improved.
I have a full cat back system fitted which releases the full exhaust sound with out blurting or being over loud.
I went down the route of induction first with air filter and shroud and then i have moved to a Simota Kit, i modified a M3/330ci one which was just a little reshaping but allows good airflow.
On getting air in and out i decided to try a remap although i went down a Generic route with this i think a live map would produce great things.
The car is certainly perky the stage 1 map and mods it now around 220 bhp/330Nm torque
The engine note change throttle is very snappy as you lift off the revs drop like a stone but equally pick up is great.
The difference in 5th is night and day and it pulls like a train.
Still with a heavy right foot the Obc reports 28/30 Mpg and having calculated this its pretty accurate.
If in 5th at 50ish it reports 47Mpg!! i just can not drive it that slow to average that one out but its certainly not turned in to a heavy drinker !
The manifold can be converted to an M54 325/330 this changes the manifolds shape from a D shape to a full oval to match the head whilst not maybe reported to give you the power the M50 conversion does on the single Vanos it will push the 2.8 towards the 3.0 power bracket with the other mods i think you will achieve you goal..
