Previously this was a roadster for the driver willing to accept a harsh ride and ultra-fast steering in return for brilliant handling, but who was unwilling to accept any compromises whist achieving this.

Now the BMW Z4 has even better road grip than before, as well as steering that all-but reads the driver’s mind, and now has increased comfort and steering that doesn’t twitch like a kart's. But it has lost nothing in the way of response – point it at the right road and you will love the feel of this sports machine and break out in a true driver’s grin within minutes. The Z4 really does seem to read your mind and react almost instantaneously to all commands to it through the steering wheel and/or throttle pedal.

Some nervousness still exists, particularly on irregular surfaces where it is bumpy and quite noisy through the tyres. But it isn't overdone and most will feel it adds to the character of the car.

The styling of the new BMW roadster is instantly recognisable as Z4, with the same very long bonnet, truncated tail and ‘flame’ side surfaces we knew and loved in the old one.

This time around the BMW Z4 uses a folding hardtop. When it's in place, which hopefully isn't too often, it has a neat appearance and the car could almost be seen as a fixed-head coupe. Which may not necessarily be a good thing, as some sports and convertible lovers are more than willing to suffer the security risk of a soft-top to gain what they think is the only true appearance of a folding-top sports machine.

The interior looks work exceptionally well, with a high-quality, three-dimensional appearance in the dashboard and instrument areas. The large screen on the satellite navigation / infotainment system makes it a cinch to read at a glance. As a true sports car this is strictly a two-seater, with the occupants sitting almost back at the rear axle. The rollover bars are fixed, but don’t jut so far above the headrests as to be unsightly.

There's good in-cabin stowage considering this is a pure two-seater, with door pockets that fold out to accept sunnies, wallets and so on, as well as a centre console containing drink holders. Cleverly, there's a small area behind the seats with clothes hangers and a net capable of accepting slim handbags or the like.

Boot space isn't too bad for a car of this type and can be expanded significantly when the roof is in its open position by way of a cover that delineates what space is on offer. Pack wisely and you will have no trouble in getting away for a week in this lovely convertible. Interestingly, moderately long items can be carried by way of a centre ‘ski’ flap.

In its latest format the BMW Z4 comes to Australia with a choice between three petrol engines. All are straight sixes, capacities are 2.5, and 3.0 litres, with one of the latter being BMW's stunning twin-turbo unit. The models are tagged Z4 sDrive 23i, 30i and 35i and have power outputs of 150, 190 and 225 kilowatts respectively. Peak torque is 250, 310 and 400 Newton metres.

All are offered with six-speed manual gearboxes. Automatic transmissions behind the two smaller engines are conventional six-speed automatics with semi-manual sports functions. The 35i has the seven-speed double-clutch sequential manual previously seen only in the BMW M3.

Prices are very sharp, lower than we had anticipated. With a starting point of $86,200 for the Z4 sDrive 23i and ranging through $98,100 for the 30i, to $116,900 for the twin-turbo sDrive 35i, the new BMW Z4 is likely to pull in many buyers who fall into the well-off category, without being classified as being rich.

The latest BMW Z4 is likely to answer all the criticisms levelled at it by most previous owners, or by those who looked at the car then decided against it. The looks are classically right on the outside, extremely well executed in the cabin. And the way it responds to the road in a lively, but not overly aggressively manner seems sure to appeal to all.