Who's got the best readers? C'mon, you know we do. While we were off taking a Friday-night Chinese food break (full disclosure: Sizzling Go Bar) Gerald, an extra-astute Jalopnikian found a link to a report on the rumored BMW supercar we referenced in a previous post. Word is, BMW is at work on an upmarket sportster with a rear- or midship-mounted 5.0-liter V10 tweaked out to 550hp (and rear-wheel drive, natch). Known internally as the "Z10," it would be the first BMW supercar since 1979's M1, the car that launched BMW Motorsport. According to the report, extensive use of carbon fiber and aluminium will give the range-topping Bimmer a power-to-weight ratio of 458hp/ton, while keen attention to aerodynamics — using such wind-directing elements as active spoilers — will make the Z10 stick to the tarmac like an F1 car. Production and sales are reportedly set to begin in 2008, and the price will likely be within the $150,000 range.