The title of this thread is a bit impresise but ok... (I was expecting to read something along the lines of a break in actually gone wrong)
Anyway, I have read numerous posts whereby people have not followed the BMW break in routine and others that did. I didn't find any conclusive trend showing if the former leads to any sort of (short or longer term) damage, mulfunction or underperformance. There are people that just beat the crap out of the car day 1 and others that go with the BMW discipline, both of which never experienced any issues. Even cases with increased oil consumption can hardly be attributted to "improper" break in (whetever this is).
Personally I would never beat the crap of a new car, let alone a brand new M3 with a high reving V8 engine. For whatever worth (even solely for emotional reasons) I would follow the recommended break in instructions - and this is what I did.
Indeed just about all data is longged and could potentially be used to void your warranty. Whether this will actually happen is probably dealer specific in combination with how badly limits have been exceeded.