The past year with my M3 has been a fantastic experience. I special ordered my car to have the options I wanted, and I highly recommend the process - it only takes 6-8 weeks. Fantastic overall performance, comfortable, and relatively economical, the M3 is the ultimate driving machine (for me anyway!). Reliability has been great, almost 10,000 miles so far and zero problems. The build quality and quality of components is first rate. Included maintenance for the first 4 years/50k is a real $$ saver.
Overall driving performance - acceleration, braking, handling are outstanding - impressive in that it is comfortable and offers a relatively roomy rear seat and trunk, with fold down feature to fit large items - very handy!!
The drivers side seat bolster is experiencing rapid wear. A reinforcement to that area, possibly a same color leather panel that is easily replaced (velcro attached?), is needed. The exhaust has a "raspy" sound at high rpm's, aftermarket pipes eliminate it, BMW should fix it.