Being an owner of a z3, I've got alot of opinion on this one. First I'll break it down:
1) Lowered 1.5 inches. Big deal. My unlowered z3 sticks to the road like glue and has great 50/50 distribution, so lowering it another 1.5 would only increase the chances of bottoming out or hitting your bumper on the ground.
2) Burl wood & chrome is interesting, but done aftermarket. Any damage to the interior is going to have to be an aftermarket repair.
3) Improved brakes: negligable. the stock z3 has one of the shortest braking distances of any car on the road already.
4) increased horsepower: good and bad. The good: the 1.9 was a weak engine to start with, so supercharging it corrects its gutless deficiencies. The bad: a z3 is EXPENSIVE to keep conditioned at 100%. All the changes added will DEFINATELY add to your maintenance bill. and Remember, aftermarket mods to performance do NOT add to the blue book value of a car like the z3... only the street value.
5) Model Year: the 96 is going to be a 1.9L engine. This had the narrower rear profile instead of the flared fenders, and lacked the performance sized tires of the 2.8L that came out in the next year. As such, handling is reduced (probably why the person needed to lower it 1.5 inches and upgrade suspension... to make up for existing 1.9L deficiencies).
All in all, I LOVE my z3, but i would recommend you look for a 2.8 model instead of buying a heavily modded (and therefore more expensive to maintain) 1.9L