So about 6 months ago, I picked up my second E46 M3 (or third technically, but I don't count cars that I buy specifically to flip) .
It was on my list of 'dream cars' to own. Alpine White, imola red interior, and on gorgeous BBS LMs. Except it was an SMG, and I modded it so quickly that I ran out of things to do that were of a reasonable cost-to-effect ratio. In other words, I got bored fast. So I sold it. For a very nice sum, too. E46s seem to be a hot commodity, but if I were to buy another one, it would most certainly have to be a 6 speed ZCP model.
After a bit of searching, and a lot of coercing the wife, I found a nice 996 Turbo in good condition, with similar miles and a great price. I found a few others, but this one stuck out in my eyes as the best candidate. Mildly modified, but nothing really notable that would set the car apart as the previous owner's. Lowered on Bilsteins, HREs, and fitted with some wannabe GT2 wing. It also has smoked tail lights, which I hate with a burning passion. Easy enough to knock down the price a good bit to replace or refinish them properly. I've already addressed the wheels and the wing, with help from my shop, Aristo, and the always mighty Techart. Those will be on the car soon.
All that being said, the car has managed to exceed my expectations. The PSS10 coilovers aid in eliminating that gross, floaty suspension feel that tends to plague AWD 911s, and helps to diminish the lingering hint of lift throttle oversteer. It's still a very nimble car, and it has no trouble putting the power down to the fat 315 section rear tires. The BBI race exhaust and ported headers add a nice boost of power, not to mention a fantastic amount of noise from an otherwise timid sounding motor. I will never claim to be a purist. Our cars are just too much of an expression of our personalities. I love seeing modified 911s, Lamborghinis, or anything for that matter. So expect to see posts in the future with bigger turbos and lots of crazy supporting mods. But don't expect it to be stanced and slammed and ruined. Keep an eye out for me if you live in San Diego!