Yes it looks very similar to the 3 series coupe - that's because it is the 3 series coupe's direct replacement. BMW are complicating/simplifying (however you see it) their model line up by using the 3 numbers series name for a saloon and estate, whereas the 4 will be used for the sportier coupe and convertible.
Think about the relationship between the 5 and 6 series. 5 series equals estate and saloon whereas 6 series is a coupe, convertible and 'Gran Coupe', which is a four door coupe.
And they're going to do the same with the 4 series. So as well as the coupe and convertible there will be a 4 series, 4 door Gran Coupe.
Engines are expected to be 420d, 430d, 428i and 435i across the coupe, convertible and Gran Coupe range with an M4 available at some point.
The 4 series will be available from summer 2013 and the concept will be on display at the 2013 Detroit Motor Show in January.
The car itself is an evolution of the 3 series design but at last BMW seems to have found some balls and designed a car that is almost pretty. In fact, apart from the slightly disastrous nose and grille - a common feature across the entire BMW range, the 4 series is a seriously good looking car. The Bangle influence has been almost entirely eradicated.
Expect the 4 series price to start at around £30,000.
