In the new Car and Driver, they review the 323i sport wagon due stateside by the spring of 2000, the same time the 330i is expected by many. In that article, they explain that only the 323 will be available in sport wagon form, no 328. Something I found to be quite interesting if you think about it.
I believe that a 3.0 liter of the sport wagon will be made available (just doesn't make sense that they wouldn't have it). It's just that BMW does not want to announce it now because it would confirm that a new, more powerful engine will be offered in the 3 series lineup by next spring. Such a confirmation could discourage prospective buyers from making their purchases now.
Anyway, with regards to the 323, it must stay as is, at least until spring of 2000 because of the sport wagon announcement. What would they do, have two different 323 engines in spring 2000? A more powerful one for the sedan and coupe models while the sport wagons use the current version we know today? Just doesn't make sense. Also, why would they allow Car and Driver to print that today's 2.5 liter engine will be used in the sport wagon if they planned on beefing it up. That wouldn't really be putting your best foot forward, would it?
Sorry about the rambling. Just thought there were some interesting things between the lines.