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Okay,
I have several E30 M3s and a bunch of 911s too, so let me make a few comparisons. Compared to a similar vintage 911, an M3 is a little heavier and lacks the straight line acceleration you get in a 911. Around town, you probably won't like the car, as it is really short-geared and still doesn't accelerate very quickly, unless you rev it high. Since it takes a while to warm the oil, any short commutes will be pretty uneventful. It feels much better at highway speeds, so that is where it is happiest.
Where it will smoke a 911 is in the braking and handling department. It has ABS, so the wheel locking you get in a 911 on poor surfaces, or the one-wheel locking you get on uneven roads won't happen. As a result, you can hammer the brakes on any road, without any concern for what may happen. It is also perfectly balanced and is extremely responsive to either steering or throttle inputs, in a corner. With good tires, you'd be amazed at the cornering speeds you can generate. You can push one a lot harder on the street safely than you can a 911 because they are so viceless. Where they really shine is on corner entry, where you are starting a turn while still hard on the brakes. You'd have to drive one and experience it yourself to believe it. Traction is also outstanding, as a limited slip was standard. It's really hard to believe the difference between a standard 3-series BMW and one of these. They drive completely different.
As for the little things, they are a lot better than a 911. The wipers, heating and A/C, radio, seats, minor controls, etc. are light years better than a 911. They are considerably more practical, too. The one downside is they will require more money to maintain and it's a lot harder to find a nice one, as there are a lot of them with a bunch of deferred maintenance items.
By the way, the engine has absolutely nothing to do with Cosworth. The block is descended from an old Formula 2 engine BMW built in the 1960's and the heads are essentially 2/3's of an M1 head. Also, you are also about as likely to find an EVO3 M3 here in the states as you are to run across a 911R at the local gas station. At last count, I think there were 2 in the US.
If you are serious about buying one, I will be selling one of mine this spring.
JR
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