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Originally Posted by Beemdog
If the engine block itself is damaged (as would commonly happen when you have serious connecting rod damage, esp. a broken rod), then you would essentially be starting over with a new engine. Better to buy a factory-built long block (or possibly a take-out engine from another M3) than to have your local dealer start from scratch with a new bare block. If you are building a non-stock performance motor, then I would go with an independent engine builder (not a BMW dealer). If a warranty repair, leaving it in the hands of a competant BMW dealer is a good approach.
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This right here is the best advice you're likely to get, OP.