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well, not too much help, but from what i know (archive)
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Posted by Cris on January 03, 2002 at 11:42:28:

In Reply to: Euro M5 purchase questions posted by Ivan on January 01, 2002 at 22:37:13:

The car should have the MPH speedometer... I know of a few gray market cars that retained the KPH but they didnt necessarily have a title but rather a certificate of origin...
I talked to a guy that has a 91 sport evo m3 and he has had it locked away in a storage garage for the past 11 years... I think that even though he "supposedly" passed DOT regulations the car is still not able to be titled in the US.
Personally, i would stay away from the gray market cars unless you brought them over yourself and you know the history on it. I know of two cases where the persons that bought the cars could not register them in the US to get a plate.

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