Originally Posted by Longboarder
Thanks everyone for the input. I'm not a "wrencher" whatsoever and the more I think about it the more I migrate to a newer BMW as a track car.
In fact tomorrow I'm going to see a 100% stock 2003 M3 SMG with 18's (listed for $11K). I figure after some basic maintenance (fluid flush, etc), tires, alignment and brake pads, it's ready for the track. Plus I can beat the snot out of it and not worry much.
Make sure to do research on S54 (and e46 in general) track reliability as well prior to purchasing. Kaiv here on m3post tracked his extensively and might be able to talk you through any potential issues and costs.