For pure performance I predict that the E92 M3 < E46 CSL. The E92 might be a bit quicker in a straight line (but not much) but the CSL will definitely beat it everywhere else.
In terms of the comment that the M3 will be way faster than the 335i, that is assuming the 335i owner does not add PROcede (piggyback ECU) to the mix for a mere $1300. Suddenly it will be very close (although the M3 will still be faster in a longer race due to 40 HP or so more power than the 335i).
M3 is not all just about straight line speed, that is for sure!
Driving sideways: It's not faster, but damn it's more fun!