We took 2 M3's to Germany, one E36 Evo and one E46, there was nothing between them on the straights, round the circuit the E36 didn't feel as stable or controlled where as the E46 was planted, obviously the older one had done some miles where as the E46 was a low miler.
They are strange cars, make a LOT of power up top, or should say put on a lot of speed high in the rev range so if you don't use all the revs I found them to be a little dissapointing, they said the E46 would do 170mph and quite happily sit on a mates 400+hp Skylines bumper all the way to that so clearly not slow.
At todays prices you would struggle to find a better specced car for the money, just not everyones cup of tea