I think it would be a "fun to drive" car in autox (check out the Speed Channel test drive video). The M3 slaloms extremely well, should be OK on larger sweepers and will accelerate when you get to something that looks like a mini straight. I emphasize fun because if the competition side is most important, it will struggle against a 996 GT3, Elise or Z06 which most likely will be considered in its class (Drivers being equal).
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