I would say the M3 will be faster. and yes I have driven a e46 M3, c5 z06, c6 and c6 z06 on the track. but not a new m3. but my answer is based on RandT road test data. the M3 wins in every catogary, 0-60, 1/4 mile, braking, skid pad and slolam. is the Vette a super sports car? yes. but its a pure sports car with two seats. but the M3 is a 4/5 seat sedan with a real trunk.
http://www.roadandtrack.com/assets/d..._datapanel.pdf