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Respect = for the Guy selling the M3 - that he told you he had tracked the car.
I've tracked since '08 and probably have 5,000 track miles just on my '11 M3, it is stressful on the car BUT I have never followed the recommended service level. I have paid for additional service and attention since safety is important. My BMW Technician and I have kept a complete service record and I would also like to believe that I have installed quality parts. My BMW Technician inspects my car prior to every Track event. He would probably say my M3 is in good shape.
OP: Like others have suggested, get a complete service history and if you really are interested in THIS M3, pay for a BMW Technician to completely go over the vehicle.
Good Luck,
Chris
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