I think the M3 is a better car and would prefer a M3 a few years down the road, but right now, I think I'd opt for a 435. Always nice getting a car when it first comes out and if you typically lease, change is good.
I agree that even if performance is similar, it will not drive like a M car. And also disappointed that it has essentially the same engine that has been out for awhile.
I like the suggestion above, go for the cayman or boxster if you don't need the space.
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