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There isn't a $120 charge when your order the M Sport. I did order it. I have them on my 128i as well and use it everyday. I love manuals and like to control when the car shifts; the automatic sometimes shifts too late for me. The new 8sp however, seems to be a lot better in terms of gearing.
As others have said, + on right, - on left. BMW used to have dual shift paddles (where both left and right would have +/-) but it just didn't make sense.
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