Actually, by itself it tweaks throttle, turns off part of the traction control. If you have the SAT it changes the settings and shift points.
It does not make any changes to suspension unless you have the adaptive control which allows for suspension changes.
2015 M3 - Mineral White, Sonoma, Exec, LED, Adaptive Suspension, HK, 19" Light Alloy, 6MT ED 7/7/15 - Adrian
2013 535i - Space Grey, Biege, M-SPort, Premium, Tech, Cold Weather, Luxury Seating, PDC, 6MT ED-10/11/2012 - PCD - Greg Poland