I will never forget an experience I had with a friend in a 95 or something 318i. My friend's dad works at the BMW plant in Greer, SC, and they always have new BMWs to drive since they get to drive them for an insanely cheap amount of money (including insurance and registration and everything) and get a new one every few months (a perk for pretty much all employees at that factory). My friend was a screwoff who did nothing but abuse the poor 3 series and Z3's that his family got. Anyhow, I was with him one day in the 318, and he was trying to do a burnout in the automatic 318i. Obviously, this car is such a dog that it couldn't turn the tires over if it wanted to. The reving up the engine in neutral and dropping it into drive suggested earlier wouldn't work - the engine / transmission PCM was too smart, and wouldn't let you shift from neutral into drive unless the RPMs were low. He decided that the only way to do a burnout successfully in the car was to get going pretty quickly in reverse, jam the car into drive and floor it. Well, this worked beautifully twice. On the third time, there was a big clunk, a loud thud, and the engine revved to the rev limiter, but the car kept going backwards! Stopped the car, put it in park, and it kept rolling down the hill! Turned out that every tooth got sheared off of the ring gear! The BMW dealer questioned his dad about abuse to the car, but replaced the unit at no cost to my friend's family anyways.
Moral of the story - DON'T try this or neutral drops. Burnouts are hard on a car unless you have enough power that you can overcome traction easily.