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Will there be a ludicrous mode option?

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Yes, the Performance version with Ludicrous mode was confirmed by Elon here. For production start date, a few months ago Elon said end of March 2018 here, but then more recently he said mid-2018 here.

This won't be a software upgrade. The Model 3 P80D will have large motors in the front and rear. The Model 3 80D will have a smaller motor in the front. Also, the performance versions have a smart fuse that can output maximum power safely and quickly.

Ludicrous mode and performance version are the same thing for a while now. Initially, when they first discovered the smart fuse, the P85D's that were sold until then, didn't have it. So they offered to retrofit Ludicrous mode for $5,000. This was a hardware retrofit. Since then, the performance versions come with the Ludicrous mode.

The 0-60 time and the price of the Model 3 P80D are not released yet. My best guess is 3.1s and $74,000.

By the way, the most likely scenario for federal tax credits is as follows. More details here.

Optimistic Scenario (65% likely)
  • $7,500 for deliveries until Jun 30, 2018
  • $3,750 for deliveries until Dec 31, 2018
  • $1,875 for deliveries until Jun 30, 2019
 
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This won't be a software upgrade. The Model 3 P80D will have large motors in the front and rear. The Model 3 80D will have a smaller motor in the front. Also, the performance versions have a smart fuse that can output maximum power safely and quickly.
I was under the impression that RWD had a larger motor in the back, AWD has two smaller motors, and Performance AWD has a large motor in back and small in front (at least on the Model S). Is this incorrect?