is your friend still looking?
My buddy owns mpg motorsport (formerly millaracing), and he is selling his promo e46 M3.
you mentioned that he wants slightly modded. this car has lots of mods but all parts used were top notch as the description shows. so in case its not to his taste no hard feelings.
Worth checking out though.
http://millaracing.com/project.php?p...192e3769d95bca