A 4wd car might be the best on snowy roads. But i mean, there is a reason why we often see 4wd SUV`s in the ditch :P SUV handle like crap on snow, and the 4wd also makes most people so cocky, like their unbeatable and can drive 1 millions mph on the snow.
I cant see why u cant have a M3 on the snow. I often drive my dads 730d F01 the snow and its no problem.
So yes, go with option #2. Gets som proper European winter tires atleast