What does the "Sport button" do on the X5 with Sport Package?

[spmd11]

Hey guys.

I test drove the 4.8 Sport on Sunday. It had the sport package on it and I noticed the sport button below the transmission lever. What does the sport button do?

On my 08 535i Sport I have the same button, and it tightens the steering, increases throttle response, and most importantly, it halves the shift time of the transmission in manual mode.

Is this what the 4.8 and 3.0 X5 sport button does?

I didn't have a long enough test drive to figure this out. It seemed as though the transmission was a bit lazy in manual mode compared to my 535.