First: 1M has Z4 sDrive35is engine and not 335is.
135i / 335i had and Z4 sDrive35i has N54B30O0.
135i / 335i now have N55B30O0.
335is has N54B30O0 with BMW Performance upgrade.
Z4 sDrive35is / 1M have N54B30T0 with so to say "BMW M" upgrade.
For me 1M is a 100 %. The reason is the engine. If to change the engine it will cost very much, so also no need to talk about this. The E82 chassis is better for a track car than E92 chassis, as it is lighter, but this is only true when talking about raw chassis, E82 vs. E92, not 1M vs. M3.
The best solution for a track car would be to get a 120i Coupé E82, stripp it out and put the NA 2.0l I4 with 280 HP and 8.500 redline from the BMW 320si Motorsport, and then all the M3 parts. Would be better, more fun, really lighter and cheaper. But it will not be a dailly driver. Then I think 135i is better. 1M is not bad if to leave it as it is, but never as M3.