In my opinion you pay for you get.
I've only ever used the following tyres on my e36 M3s:
Pirelli P-Zero Rosso - good overall tyre, very good dry grip, average in the wet, low noise
Bridgestone RE050 - excellent dry grip, firm ride, a little noisy but disappointing wet performance. Also used this on our 320d M sport e90 - very impressed with it
Bridgestone S02 - outstanding dry grip, almost as good as a trackday tyre, excllent in the wet but again very firm ride.
Michelin Pilot Sport 2 - the best tyre I've ever used, good ride, lower noise than the Bridgestones, amazing dry grip and impressive wet performance.
I am currently using Contis on both our e90s (run flats) and have been so far impressed with wet and dry grip although they are a little noisy. I've just ordered a set of Conti Sport Contact 3s for my 18s. From what I've read these are one of the best tyres you can buy.
Tyres are an essential part of how a car behaves and also feels. I've not heard many good things about Falkens and for the extra money I'd recommend you go for a premium tyre over a medium to budget range one.
You drive a premium car so why compromise on tyre choice? Look around on ebay - good deals are available on new tyres
