Originally Posted by pharmdphd98
Go to M3forum.net for E46 M3-related info. This forum greatly emphasizes the E92. To be brief, the best E46 to have are the 2005-2006 with competition package/ZCP, preferably with manual transmission. It's hard to find one with low miles and in good condition but if you do it's not going to be cheap. A car with the above description will command a price close to a 2008 E92 M3. Good luck.
Agree with this except to say that you shouldn't immediately rule out the SMG. I had one and I really liked it. Much faster than I could be and didn't feel like I was making a compromize giving up full manual.