I had a brief test drive yesterday (my car is due in November) and can see why the car mag journalists have given the car a slightly lukewarm reception upon first acquaintance. It really does feel like a grown up long distance GT car with impressive ride comfort (EDC equipped demo) and low noise levels. It did not feel especially quick but then the car was not run in, revs were limited to around 5000 and I'm unfairly comparing it to my Gallardo and 997 TT for initial accelerative shove
It certainly seems as though you do have to use the box a lot to get the best performance from the car but it makes a lovely V8 snarl when unleashed. The steering feels slightly remote when compared to the sharp helm of a 997 but this is a minor point when you consider the overall character of the M3. The clutch in the particular car I drove was pretty awkward to master and felt heavy with a sharp biting point. The brakes are also pretty sharp and need a very light foot to engage smoothly. The gearchange is precise and the overall cabin layout and build quality is extremely good. I think this is a car that will require plenty of seat time and miles to unlock it's full potential. Initially it feels like a grown up GT car with a very different character to the E46 M3 but I'm sure that there is a sports car lurking beneath the surface just waiting to be unleashed.... probably above the 7000 RPM mark