The vent is the hofmeister kink rotated 90 degrees
A couple of thoughts...
Look at the Hofmeister kink and rotate it 90 degrees counterclockwise and put it on the front fender, and voila you have the fender vent. A smart design compliment that ties the side design together!
I like it as these as these cars need a functional way to dump heat out of these claustrophobic turbocharged engine compartments. This visually works using one of BMW's most reconized design features.
It also helps the proportions of the car the same way the E92 M3 front fender vent does. Not too big on the black color but that is easy to fix.
Also the proportions on this car fix the problems with the old 2 door/ 4 door design compromise. On the E30/E36/E46 they look great as 2 doors but "cramped" or "shoved together" as 4 doors.
The E90/E92 bodies are just the opposite. 4 door has great proportions but the 2 doors have poor proportions. They look stretched out and only look good on the current E92 M3 where the rear spoiler, hood bulge, fender vent, and side sills fix that by breaking up the design of the side view.
The extension of the greenhouse on the F32 is very effective and for arguably the first time the 3 series will look great in both 2 and 4 door designs. The effort and investment BMW has put into really differentiate the two models is worth it and sort of justifies the 4 series name, IMO.
I really do not like the standard E92 design but I am really tempted by this look. I do like smaller cars and hope the 2 series fairs this well.