The car is awesome, as long as it's a geniune M3. I know the rear spoiler is functional, and I like that fact, but it looks too thick and heavy, even on the race car, to be a real "racey" looking spoiler. There are proably a bunch of different spoilers on the market for that model 3, and I'd advise looking at all those. I'm sure you'd find something better. The rest of the body looks great, though if those side skirts weren't stock I'd call them ricey.
Just remember, it's a BMW and it deserves respect as a real performance car. That model M3 was the greatest in my opinion, the most pure, if not the performance king. I love the lack of electronic nannies, I love the simple, conservative, traditional BMW design, and the performance is plenty good. It takes skill to extract it all, but in a fun way, inlike a hardcore race car. Where was I going with that....oh, make sure it doesn't look a bit ricey, or I'll ahve to slap you. The Bimmer deserves better than that.
You should prbably hack up some money and give AC Schnitzer a call: I bet they could hook you up with a neat little spoiler.