It has a quick turn-in and crisp steering, with little tendency either to push or get tail-happy. Handling remains neutral even when the driver is less than perfectly smooth. If the car is pushed past its (or the driver's) limits, traction control does a great job keeping the M3's nose pointed in the right direction.

Its 3.2-liter variable valve six turns out 333 horsepower and 262 lb-ft of torque, enough grunt to allow for spirited passing at highway speeds in fifth and sixth gears. Put the pedal down and the engine pulls no matter where on the tach the needle points or what gear is engaged. At the track it quickly becomes clear why so many of the respondents to our AutoFile survey autocross their M3s on weekends.

The M3 pulled 0.87 g on the skidpad, and it ran our 490-foot slalom at 46.0 mph, the same as the Porsche Boxster S and Chevrolet Corvette Z06. On the drag strip, the M3 turned in a 0-to-60-mph best time of 5.10 seconds, with a 13.68-second quarter-mile at 102.3 mph. That flat torque band made for consistent passing speeds, too, with a 20-to-40-mph time of 2.2 seconds and a 40-to-60-mph time of 2.3 seconds. Braking matched the car's overall performance, stopping the M3 from 60 mph in just 117 feet.

The M3's performance doesn't lag far behind BMW's slightly bigger M5, which ran 0 to 60 mph in 4.96 seconds, the quarter-mile in 13.5 seconds at 104.7 mph and stopped in only 112 feet when we tested it in May 2000. Owners said they enjoy the M3's brakes as much as the car's overall handling. On the inside, they like the supportive seats and the stereo. And most mentioned that they were surprised by its respectable fuel economy, given how aggressively most drive their M3s.

As much as we-and you-like the M3, it leaves a few nits to pick. Over less-than-perfect surfaces the ride can get a bit choppy, with more road noise making its way into the cabin than owners would like. The M3 also tends to idle roughly on cold starts, and there's no spare tire due to the design of the exhaust. Many owners complained loudly about outrageous dealer markups they had to pay to get their hands on the M3.

But pay they did, and it's no wonder. Like we said, the M3 is about as good as it gets.

THE M3 COMBINES AN INCREDIBLE DOSE of acceleration and handling in a package that is both practical and tastefully luxurious. The car has a bank vault feel to it. The fender flares and the exhaust quartet are true indicators of what's underneath. -VINCENT REALE, Rochester, N.Y.

YOU CAN REALLY WRING THIS THING OUT in the turns and it just hangs on for you. It's not as tail-happy as you might expect. Inside the cabin, the exhaust note is such a pleasure to listen to, half the time I just turn off the stereo because the music coming out of the four tailpipes is more entertaining. -STEVE HOFFMAN, Pompano Beach, Fla.

I LIVE IN GERMANY, IN HILLY, TWISTY ROAD country, not too far from an autobahn. The M3 is everything I've dreamed of and more. I knew it was something special when after dinner on the night of its delivery, I came out of the restaurant and found a well-to-do German family standing around the car. They didn't move until after I drove away. I've already been to the Nurburgring a couple of times for a little fantasy drive around the beautiful old circuit. I don't believe that there is another car in existence that could bring me more pleasure over here in these driving situations. I feel sorry for people who own this car in other parts of the world who won't get the opportunity to see what this work of art can do. Plus, I have 10 more horses than my fellow countrymen on the other side of the pond. -STEVE SCHAUGHENCY, Sembach-Heuberg, Germany

FINDING AN M3 AT A REASONABLE PRICE was impossible. Dealers in California were demanding $10,000 over sticker. I went 400 miles out of my area to get my car and it was less of a rip-off, but certainly not a deal. BMW needs to know these tactics damage its image in customers' minds. I had three deals fall through before I found a dealer who would honor my deposit. -DALE RICHMOND, via e-mail

YOU CAN DRIVE THE 155-MPH M3 LIKE an economy car, if you wish. BMW is famous for docile high-performance inline six-cylinder engines, and the M3's smooth, quiet six doesn't protest when the car is in higher gears at 35 mph. However, the 3.2-liter engine is rather small, so it must be revved a lot despite its sophisticated design to get the best performance. Performance is explosive. The engine snarls during hard acceleration. It loafs at 2700 rpm in sixth gear at 70 mph, which is why it can deliv-er 24-26 mpg on the highway despite its race-style design. -Chicago Sun-Times