After talking to a few people about this who seemed to know: A chip won't do you much good on the new M3, mainly due to adaption -- the computer will just adjust to any changes you make to the parameters after a few weeks of driving, and everything will be back to normal. An exhaust system may be nice, but relatively expensive, given the 4 outputs. The most efficient thing to do would probably be getting a new crank; engine lifetime would most likely suffer though. Turbo/SC might work, but certainly have their price, too. The car will certainly leave enough room for mods in areas of suspension and brakes though, allowing you to move the comfort vs racing compromise towards the sportier side quite a bit.
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