I have a '94 318IS. I recently had my B&B exhaust system updated thius summer by them (I live in the Phoenix area). This IS the system I wished they built in 1994!! The new updated system makes even more power than the original version and it's MUCH quiter!
DO get the B&B syatem and make sure you get the center resonater in the system. It looks great & works the best of any system out there. T308 stainless polished up looks like your system is chromed!