A non-M E46 can usually fit a 255/40/17 on all 4 corners with the proper offset. The problem is that the offset that clears the fender lip in back will rub the strut like crazy in fromt. For the serious autocrosser, a set of 4 17x9s with an offset around 50mm, a pair of spacers (15mm?), and longer lugs for use up front with the spacers would go really well with some 255/40/17 Kumhos. If you run with the big boys and use Hoosiers, 245/40/17s are at least as wide as Kumho 255/40/17s and are the only way to go at Topeka.
Ed