My friend has the 335i. It's fast and all that, but styling is nothing like the new M3. So I think it depends on that, and if you want to talk technical stuff then I guess that too.
Whatever the case, the M3 needs competition. I don't care where it comes from. The entire M philosophy is to push and push to the limits while being a solid everyday car you can beat up. That's why I like the M. Hit a pothole, it bounces back. Do that in a porsche or a Vette day in and day out. It's not so expensive that you get diarrhea when you cruise through a grocery parkign lot for fear someone may ding you and cost you $10K. Things like this. It's a solid and fine pony and she can take a lot of abuse.