I assume it's an '04?  Sounds like a good deal, not a great deal.  I was in the market for an '04 330i w/ only the sport package or a loaded 325i (didn't want to go above $40k).  The dealer had a brand new '03 325i with the sport package, premium package, HK sound system, leather seats, Bi-Xenon lights, in Black Sapphire Metallic.  With destination, MSRP came out to be $36k.  I told the dealer he's going to have a hell of a time selling an '03, black (they get dirty easily), rear wheel drive vehicle in the middle of winter in Colorado.  He agreed with me and after some dealing, I got it for $31.9k ($1500 below invoice) + tax (no dealer handling or advertising charge).  BTW, I left and came back a week later after I checked to see what the differences were between the '03 and '04 325i--no differences.
More info:  strangely enough, the Bimmer dealers were more willing to deal than the Infiniti dealers (I was also looking at the G35).
Good luck Mike!