Since PTG sold off all the BMW stuff last year....the new M3 coming out next year....will they return next year with an M3? Will they wait and come out with an M version of the 1 (really what I am hoping for) and race that since the M3 is so heavy.

I think we all realize that racing is a marketing exercise. Currently BMW is selling everything they make, and sales numbers keep improving.
If they start losing big market share to another competitor, then maybe they'll be back.
When they do, I wouldn't be surprised to see Rahal's little boy in a seat...

BMWs sales have been improving every year since the mid 90s. I don't think them racing contributes a great deal to the number of cars sold. I think one contributing factor to not running in the US was due to the full commitment to the F1 team (not just engines as was the case with Williams).

I don't think them racing contributes a great deal to the number of cars sold.

You're right. I doesn't. But exposure in media thru racing, does. While the F1 budgets are dwarfing the GNP of small nations, money is still available. They spent $10 million on the failed America's Cup effort (didn't have enough Kiwi's to be competitive :) ).

If you look at the sponsor list for the GMG Speed World Challenge cars, BMW is listed. They also have "BMW M-Power" on their transporter.

I don't know if there's anything in that above brand loyalty though...

BMWs sales have been improving every year since the mid 90s. . . .

When oddly enough, the BMW racing program was getting going here. I think the successful racing effort certainly helped make the e36 even more desirable than it already was. But the reputation/image has been built and as FierySphere hinted at, it may be some time before BMW feels the need for a factory backed effort here in the US to re-affirm the tag line "ultimate driving machine."