As I said before, I believe with E85 and the proper tuning the high 12's are possible, I just don't think we're going to see the average 328i with stage 2/downpipe/exhaust running 12's.
E85 changes things immensely. For most this isn't considered a normal setup though, as some don't want to run E85 in their car all the time, and others simply don't have the access to it even if they wanted to. I am one of those people.
Regardless, for a 2.0T, low 13's to 13 flat with a simple stage 2 setup on 93 octane is no less than impressive...and makes for a fun daily. I can't wait to get my old lady up to the track running hers.