That really sucks!! Fortunately the tow truck driver who came for my car was very careful, used the tow hook and seemed to know what he was doing.
They might not total it, but if they do - like someone else said, the car did its job. It did save your life. I know the feeling!! Standing there at the scene of the accident, not sure if you should cry or just be happy that your car held up so well and saved you from a lot of pain.
You shouldn't get screwed over too bad in the end - but insurance is good at screwing people over becuase they do it every day multiple times a day. You will be low balled on the value of your car - make sure you let them know how much 97 328i's go for.
BTW Who's your insurance provider? Mine was state farm and they did a good job except for determining the value of my car. I'm going to talk to my agent in a few days about it.
But all in all - you'll find another car that you'll be happy with (if thats the case). I dont know about you, but I'm glad they didn't decide to repair my car... its rare for a car to be completely "straight" after repairing it from a bad accident.
Good luck!!