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The M3 will be the superior performance car.
3150 lbs. for the M3 - 350 HP - lighter flywheel
3792 lbs. for the M5 - 400 HP - more torque
0-60 - M5 will be a tick faster (with stock tires for each car)
25-60 - M3 will win
Ask any racer which they would choose for a lap around the
Nurbergring - the answer will always be the M3.
The hot set up will be the M3 with bigger rear tires and lighter wheels (less unsprung weight). My guess is that Dinan will spend more time and reserach on the new M3 than the new M5 (more volume for the M3 = more $ for him), therefore better performance enhancements will be available.