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keep the mileage low on the M3... we all know it cant handle more than the is350 (: both are fun daily drives but the M would be a ***** to maintenance the more you drive it
If it was a E90/E92 M3 then that is a whole different story.
The E46 M3 has forever been a car most rev heads love to race against, and to some extend feared most. It has been named (in a few auto mags) the performance car of the decade (UK version atleast) in more ways than one. I think you got IS350>E46 the wrong way around.
M3 for Raw power...Is for luxury and room(4 door). IS more reliable as well and cheaper!
The e46 m3 has 17 more horsepower (333-316) coupled with less aggressive gear ratios (3.62 vs 4.08 final drive), though it does have less weight.
Nevertheless, I'm not sure I would describe a car with 17 more horsepower at the crank and with less aggressive ratios as being a "raw power" type of vehicle, relatively speaking.