Yeah, what ^^^ said. But as the car goes, I say take it. The 2001 was the only year with a recall (rod bearing), so you won't have to worry about that. The S54 is one of the best engines I have ever known and will surely be a timeless classic. The e46 body is also destined for the same fate as the engine and there are so many little mods you can do to it to really make it stand out. The convertible is a great ride; you get the performance of the M3 while having the option to drop the top. The mileage doesn't look to bad. I have a friend who's owned his since he took delivery and has 135ish thousand miles with no major problems. I haven't seen any pictures, but if it looks good and all the papers and service history is there, go for it. Long live the e46 M3!!
Stop putting stuff like painted reflectors and premium package in your signature. You're embarrassing.