Some engine builders like "wet" engines (Italians are good for this) and some like "dry" engines (Toyota). I would place the M3 somewhere in the middle.
If I extrapolate out my oil consumption, it would be about a quart every 8K miles on my 08; however, it usually gets changed before I have to add a full quart. Car has 40K miles.
I used to drive an Alfa Romeo Spyder ('80). It burned a quart every 1,500 miles from the day it was new. Sold it with 130K miles and it still burned a quart every 1,500 miles. My Toyota truck oil doesn't budge on the dip stick (somedays I go out and just look at the dip stick - sure do miss it on my M3).
I would not worry as long as the consumption stays constant. If it starts to increase, then you may have an issue.