Although the M3 hauls ass compared to most cars in a straight line, this was not the intent of the vehicle. The car was designed to have incredible handling, proper balance, and to do work at the track.
The M3 pwns the C63 in most track comparison tests. Most people who have driven both cars seem to concur that the M3 has more favorable performance and cosmetic characteristics.
If you are looking to win in a drag race, I would suggest looking at other vehicles or waiting for the F30 M3 to come out. I would bet it will be VERY fast in a straight line with the increased torque and hp figures from the turbos.
E92 M3 | Jet Black | All OEM Everything
E30 M3 | Alpine White | Mostly OEM