Having owned 3 E46's since they were released, and just purchasing the 3rd one (330cic w/ performance package) a month ago, I was a bit worried about the new model. So far, I LOVE this car. Internet pictures and reviews do not do this car justice. I purchased a 330i Silver on Black w/ Sport, Premium, Cold Weather, and iDrive/Nav. The car is fast, comfortable (larger interior), fun to drive. It's everything you'd expect from a 3 series plus more. The sound system is excellent, and I love the ability to use voice commands to control the iDrive. Add in a bluetooth phone, the ability to make calls with one push of a button without ever touching your phone is a really winner in my book.
Typical 3 series performance, iDrive w/ bluetooth & Nav. Larger seating area and trunk. Sport package. Finally, don't let iDrive scare you away! It is really not difficult to learn. I had it figured out within 5 minutes. The voice commands are a nice touch as well.
The one issue I have is that the window controls are now located on the doors. This wouldn't be an issue, but the controls are located so far down the arm rest that it make is an effort to operate them.