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Are we talking about track setup or street? I currently have a 128 and e46 M3 set up for track. The 128i has everything (suspension, 3.73 LSD, AA headers and exhaust, DISA, tune, clutch and flywheel upgrade, some M3 suspension bits, and square wheels). Probably some stuff I’m forgetting. Stock brakes.
The M3 has stock everything but a half cage and upgraded suspension. No engine work, but it is an SMG (that is what she wanted).
The 128i is a great car with low running costs. It is good for the lower run groups. But it cannot keep up with the cars and drivers in the upper run groups. HP comes pretty cheap these days. The M3 has a much better HP and TQ profile and the extra it provides over the 128 is very noticeable.
Feel wise, they weigh about the same and they are fairly close in weight distribution. The car rotated around you...as opposed to my Z4M coupe that you sit further back. I think if you put an S54 in the 128, it would feel like an e46. But the 128 is wanting for a little more HP and TQ, even with the upgrades.
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