Seems there's not many out there with mag ride on the S3. But from previous threads it seems that it works well on the TT but not so well on the S3. Try and get an extended test drive as that's the only way that you'll know and it's you paying the money.
Lowering springs cannot be fitted i don't believe.
I have tried to get a test drive but my dealer does not have an S3 with it on. I am a liitle bit under pressure to finalise the spec on the car as it needs to be ordered today to get the build slot.
If I dont get the magnetic ride I will almost certainly go KW clubsport or AST but I can't really decide if I need coilovers on this car, normally I spend quite a bit of time at the ring but this year with a second child due in July I really don't think I will get to spend that much time on the track, so I thought magnetic ride may be a bit of a half way house solution.
Besides I am going to order a sportback so I don't suppose it is really a track car anyway!
I looked at getting mag ride, but I was looking to firm up the standard s3 suspension settings but as I understand it the normal mag setting (or off) is softer than the standard s3 and having the mag setting on is the same as a standard s3 (this may not be quite true as I would expect the mag setting to react quicker)
But i think it might be good for the person who requires a softer setting for most of their normal driving
The switch is actually down by the handbrake and it tells you in the DIS as you toggle between the two settings. I have it on an S3 and a TT and love it. It only became an option on the S3 with the mid 2008 A3/S3 facelift.