I use launch control at least 25 times per day and I treat the gas pedal as an on/off switch...either floored or on the brake. Nothing in between. Just like most teenagers drive. I love the sound of the engine bouncing off the rev-limiter, and I love to hold it there while I cruise, 'cuz that's the way I roll. Engine cold...no problem. At redline, it'll heat up quickly.
Now that everyone is shocked and appalled...I have to say that driving the car to redline all the time as people say "that's the way it was designed" will cause such an increase in engine wear with the internals running at 8400 rpm, as say 5000 rpm. Most race cars barely make through a single race before the engine has to be rebuilt. For us lucky enough (and wealthy enough or our parents wealthy enough) to be the original owners of our cars, we can treat our cars like crap and redline them at every opportunity and have no problems, for we will sell or trade the cars way before the engine is toast. And at that, I conclude: "I pity the fools that buy our used cars". I show restraint as there really is no need to redline the car to extract power from the M3. Heck, the M3 is faster than 95% of all the cars out there, even if you shifted at 4000 rpms. I track my M3 and I never go to redline...no need to go the last 500 rpms. Heck for the "racers", you can Dinan software that moves the limiter to 8600. Why not get that? You can probably find software to move it to 10k rpms. Given the chance, I'm guessing (hoping) most would say 10K is too much. So why not 8K instead of 8400? On the early E46 M3's, they were plagued with blown engines with an 8K redline. Turns out bad rod bearings were the cause but then curiously when the same engine at the same time were installed in the M Roadsters and M Coupes, BMW lowered the rev-limiter to 7600 rpms, the engines didn't blow...same bad rod bearings. Obviously had something to do with increased engine (rod bearings) wear at 8K.
Just my views of redlines in cars. Lastly, my home stereo has enough power to generate close to 120 dB of Justin Bieber. Just because it can do it doesn't mean I play Justin Bieber at 120 dB until my ears bleed. Actually I wouldn't play Justin Bieber at any volume...he he.