Check out my review mate. All my thoughts are in there.
http://www.e90post.com/forums/showth...ight=m3+months
For me, I had to have a facelift (April 03 onwards) and had to have some certain options,
Buy a car under 10 years old and if the subframe has damage BMW should fix It for free. If they do not honour for any reasons (modded car for example) then it can be done for a grand elsewhere.
Vanos bolts can works loose. Again something that "can" happen but you should hear it and then get them tightened.
Head gaskets can go, but at any time really. 50k-150k. Just one of those things.
Servicing is expensive, buy one which had had a service not long ago. Also like any car make sure it's got premium rubber on which does not need replacing anytime soon.
So far I've just replaced the rear trailing arm bushes and brake pads.
It's a raw car. Read my thread.
Thanks