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Smaller dimensions are one thing, but today's creature comforts and additional sound deadening are hard to do without on a daily driver. This is what really adds weight. We're too used to having a nice audio system and being able to hear it over wind noise. We love our bluetooth phone connections, navigation systems, power seats, and all the other modern gadgets on cars these days. I'll admit that I wouldn't want to do without a lot of this stuff on a daily basis. Before I seriously modded my current ride, an '06 Tacoma, it had no bells or whistles, the road and wind noise was awful at highway speeds, the stock stereo sucked, and if it rained hard, you could barely hear passengers talking. Not much fun.
Even your initial post reflects this current trend and attitude. The only gadget that you expressly mentioned that you would do without was comfort access. The problem is that we've all come to expect certain things on our cars as standard and have a hard time doing without them on a daily basis.
If you want a dedicated track car or an occasional fun car, there's certainly no reason why BMW couldn't do it, but they won't, especially not for the American market (hence, no CSL). That's not to say that a car like that couldn't succeed.
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