Thanks for all the great replies ... it helps me understand the basis for comparing these two cars.

Reminds me there's a variety of ways people arrive at decisions. In my case, I wanted a two seat convert for longer than I care to admit

It seems other folks were open minded, wanted a hot car, then narrowed the field from there.

Either approach makes a lot of sense.

 

After my 2002 S2K was crushed by an SUV last year, I bought an M3 convertible. I will admit that there are days when I miss my S2000, but the M3 really is an awesome performance car, even with the extra 800-900 pounds.

Of course, I never had to take my S2000 in for service, but the M3 has been in several times (including for a cam sensor today).

 

There are even more similarities between the two cars that make the comparison between the two even more natural... but I think an E36 M3 is the better comparison than the E46.

Both cars:
are rated at 240 hp
have 50/50 weight distrobution
are front engine rear wheel drive
have direct coil ignition
have fixed steering columns

Also, both were (before the new M5 came out) the fastest cars in their whole brand's lineup (in the US). The M3 could be called the enthusiast's grocery getter, sure, but the extra 100 ft.lbs. of torque sure make it fun. Why settle? Get both.

 

i like e46 M3. look good, has power, and handles pretty good.

but like people mention above...cant really compare to s2k.

 

i have both. i love my m3, but its like driving a truck after a week in my S(its lowered 1.25"). then again after driving the M for a week, the S feels like its got the speed of a jetta

edit: i have an e46(2003)

 

stock AP owns the new M3 on tskuba

 

Yes, but new M3 owns stock AP at Nurburgring (and probably most other tracks).

 

You can always find a faster car. The key is how does it make you feel. In my S, I feel like I am 100% connected to a true RWD sport car. No motion is wasted and no power is wasted in hauling extra weight(eg. back seat, power seat, extra insulations...........).

To me, that is more important than reaching 60mph a second faster.

 

I see it as two very different cars which are both great. It comes down to what you are looking for and how much you have to spend. Even though I'm and S2K owner, I can't trash talk the E46 M3 with a strait face, they are both awsome cars!