Where did this 11 sec time come from?  The old 318ti's could do better then that, I can't imagine they'd make a car slower than the 318ti in today's car market.  I bet it really skirts around pretty well.  Slap a sports suspension on one, better (lighter even) wheels with good tread..  You've got a great car to play in, a good car for aspiring trackers.   Perfect car for my wife..
I can pull off 6.8-7 sec 0-60's in my slow 2.5 liter lightly modded car all day long.  This  120i is going to be a BMW 4 banger 2 liter, in a smaller (lighter) car.   With a stick I can't see it being slower than high 7's for 0-60, and that's probably being mean to it.  I wouldn't be shocked if it were equal or faster than mine stock vs stock actually.  (stock it quotes my car at 7.1 sec 0-60)
Hey it's a kids car, a chick car, whichever, dzervit makes the best point; that it would/could grow BMW product growth.  Don't sweat the folks that can't quite afford a 3 series, but still google at a BMW, and hope one day to own one.   There are steps in life for some, if you get to skip some, then woo woooo.