both lovely cars in my opinion but i would always go for the e46 m3...i had the chance to test drive one of these last year and was amazed at the sheer power of it...the e46 is the nicest looking of the 3 series models i reckon. although saying that a 335 would also be a lovely motor but i have been told told that a lot of newer bmws are very plasticy feeling and not as refined as the older ones(i could be wrong though). i guess the only person that can decide this is yourself,its all about what you want out of a car.both would be very fast.both would be expensive to run but both would be lovely to get into and go for a boot around some local lanes........ what a nice predicament............ like i say i would go for the m3 everytime good luck choosing mate.oh and welcome to the club