The speed cloth looks much better on the newer M3's where it covers the entire center section. While speed cloth is nice I just hate how cheap the door panels look. With the door panels in leather like someone posted above it really looks much better. I like cloth on some cars and had it on my GTI because of the plaid pattern. If I had an M3 I like the FR extended leather so much that I would opt for it. I would take speed cloth over Bamboo beige, Silver or Black leather though and would be sure to swap door cards for leather.
2010 AW e90 328i: 6 speed, Black Leather, Dark Wood trim, ZPP, ZCW, ZVP,ZSP, Nav, Xenon
BMW Performance CF Rear spolier and Gloss black grills
2008 Candy White MKV GTI 2.0T 6 Speed Manul Gone
2008 AW X3 3.0si: 6 speed Returned
2006 AW e90 330i: 6 speed Dinan Stage 1 Returned