I'm going to sound like an old boring idiot,but even with that full list of mods,assuming you also go supersprint full exhaust,the car will only be minimally different. If your friend is truly an auto enthusiast that won't be satisfied with minimal gains,then I strongly reccomend a different car to mod. I did all those mods and then some on my 330ci and the biggest change was from lightweight wheels,and possibly the headers. In the end,I lost 3 years of my life,thousands of dollars in mods parts,and car depretiation,and ultimately sold it to buy an M3.
If you MUST wrench on a non M e46 try to buy all that stuff second hand so you can resell it for what you payed in two years.
sent from my ATARI sc1224