All the talk about lack of torque is pretty silly considering that the M3 will light up it's tires in the first 2 gears, and by the time it hits 3rd it's so far up the revs there is more than enough power to leave just about any car in it's price/style range in it's smoke.
Next time I get pulled over I'll try telling the cop the car doesn't have enough torque, and see how that goes.
I'm used to sports bikes, and to ride any of the 600's or japanese liter bikes really fast you keep them revved. That said, not too many people would say a GSXR1K is slow on the street if it's not rung out. It's just fastest when revved high. And although I ride Ducati's, there's a reason they keep upping their displacement.
The M3 is pretty much the same. It's damn fast all the time, and faster higher up the rev range.
To put it more simply. I doubt you lug your older M3's, or other sports cars, and complain about lack of power. So why knock the current one if you are going to lug it? For that matter, the current M3 is in it's power pretty early, and stays there for a long time.
If all you want is torque down low, buy a diesel.