The newest special edition BMW is here. It’s called the M5 Competition Edition, and it develops 592bhp. We’re quite sure the M5’s arrival just before AMG reveals the new 605bhp E63 is just a coincidence.

M Division geeks will know ‘Competition’ is BMW-speak for slightly powered-up, stiffer-sprung M cars wearing racier wheels and costing a chunk more than their standard M brethren. Recently, we tried the M3 Competition, and liked it a whole lot more than the regular, slightly wayward M3.

But, only the most dedicated M Division disciples will spot the M5 Competition Edition is really the M5 30 Jahre by another name. BMW built 300 30 Jahre M5s – all in matt grey – to celebrate three decades of the world’s most iconic fast four-door. Thanks to higher boost pressure within the bi-turbo 4.4-litre V8, power was bumped from the standard M5’s 552bhp (and then old Competition’s 572bhp) to a staggering 592bhp.

Since the M5 went turbo, it’s never wanted for torque, but BMW’s mods beefed that up too, by 19Nm to a 700Nm total. Small wonder the two-tonne birthday party could hit 100kph in 3.9 seconds, and would be capable of 322kph if delimited.

Predictably, the 30 Jahre M5 sold out immediately, so it’s back again under the Competition Edition banner. Same standard-fit ceramic brakes. Same power, same 10mm lower, stiffer suspension, and familiar tweaks to the Active M differential and stability control. BMW says that lot makes the M5 Comp “further aligned to sporty handling characteristics”. Wonder what that means?

BMW’s stuck a €129,500 sticker on the M5 Competition Edition, so UK M fans ought to have over £100,000 in their pocket if they want to land one of the 200 examples being produced. 100 will be black, and the other 100 white. Question is, do you bag the world’s fastest supersaloon right now, or risk waiting to see how the new E63 compares?