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Power is close but I think you should factor also transmission, steering & suspension if you're doing an overall performance comparison.
2008 - 2010 N54 | hydraulic steering | progressive springs
2011 - 2013 N55 + choice of DCT | hydraulic steering | linear springs
M235i - N55 w/ 320hp | 8spd Auto | electric steering | adpative suspension
M235i N55 puts out 320hp, which is same as N55 + PPK v2. I drive a 2013 135is which has the PPK v2 and the power is really good and of course you're under warranty. If you're thinking of 2008-2010, obviously warranty isn't a factor and the n54's are capable of putting down more power (or better said there's more aftermarket options available).
DCT is great but as DanG noted the mileage isn't nearly as good as the 8spd Auto. I get 27mpg at best which is pretty low for today's standards.
All 135i's from 08-13 suffer from the same under dampened M sport suspension but 2011+ models did receive linear springs which are slightly stiffer. I've yet to drive a M235i but all reviews of the suspension have been really solid. If you like the looks of the M235i, and can get past electric steering, then I would give the M235i a good look.
My other BMW has electric steering and as much I as do prefer the hydraulic, electric isn't as bad as people say. You get used to it pretty quickly. For performance driving it sucks that you don't get the same kind of feedback which is important for making steering corrections. But for everyday driving, it's not a big deal.
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