In my eyes, the 930 is a P-51 and the M3 (and any other post-1990 sports coupe) is an F-16.
I guess I look at this mostly from a track or competition environment. I can't agree with emission's quote more, but I'll add something, apples to apples, as in stock to stock, the 930 pales in comparison to modern performance cars. Put some upgrades into an old 930 and you see a vast performance improvement. It gives bang for the buck, and starts to eat SOME of the modern competition. Though once the modern competition upgrades it gets tough. Remember, the modern competitions investment in both base cost and upgrades will be significantly higher than the 930.
An example comes to mind. A guy in our racing circle has a 2005 M3 with a huge amount in mods, about $40K. The car is good, (would be much better in skilled hands) but my klunker 930 only cost 30% of what he has into his M3 and I remain faster. Also, the 930 talks to me, if you know what I mean.
I can think of several other examples similar to the M3, but I know if those cars were my only option I'd be sitting on the sidelines with my cash in the bank. I work too hard to have a $60K $80 or $100K toy.