Not to mention the longer wheelbase on the new M3. I do prefer the E46 models too, they're just better cars in almost every way than the current gen bimmers.
Not really. I've owned 5 of them and currently have an E92 M3 convertible in my garage. It replaced a 2006 330 C with the Performance Package from BMW Individual.
The new M3 is a much better car than the E46.
In reply to the OP: I enjoy the Z4M Coupe. Takes a while to set up properly and you have to drive it well to win. But, it sounds just like a straight 6 ought to sound and it's a lot of fun to drive.