This car is a dream to drive, especially with the SMG transmission. However, one look at the interior shows that even the M3 is sadly dated. The 2005 model needs a better interior, especially when the asking price is in the $55,000 range. For example, the model I test drove only had a single disc CD player, no CD changer, no Nav system, and no satellite radio, but the dealer wanted $58,000 for it. It is a fun drive, but the Mercedes C55 AMG is a better, more complete package for the same amount of money.
The SMG transmission really is thrilling to use. The M trim is very nice. Best of all, if you plan on buying this car, rather than leasing it, you can't beat BMW's free maintenance.
The M3 needs a new interior. I know that this is the last year of the current M3 model, but BMW could have updated and improved the interior, especially for their asking price.