Well, I don't have any experience other than my own setup:
1) UUC 11.5# flywheel
2) E34M5 Clutch disc
3) E36M3 Pressure Plate
4) E36M3 Slave Cylinder
#1-3 aka UUC Stage 1 kit (I bought from understeer.com)
It feels awsome. Car definitely revs better, and just feels alot happier. Throttle response also improved a bit as well. Great mod to do IMO, especially if you are in there. I could have gone lighter on the flywheel, but I felt that it was not worth the extra money, and that it would probably hurt the daily driveability of the car. The drivetrain rattles alot, but I don't really care. It also rattles a bit at certain RPM levels, but it doesn't really bother me. Car is already so damn loud and drivetrain wise is very tight. It works well for both duties.
I use the car for our BMWCCA Auto-X as well, and the setup feels great. Clutch really grabs nicely.
NOTE: If you get an M3, 328i, M5, etc clutch and pressure plate, make sure you get an M3 slave cylinder unless you like really hard clutch pedals.