I won't be surprised if a 3.5L, 2900lbs (may be even lighter, NO bumpers) car should easily out run a E36 M3. Assuming the 3.5L has carbs, old style distributor, flat pistons (Old Euro style) and for MO or added horsepower, through in a hot cam...... But I don't think 3.5L E9 will out-handle E36 M3 and lets not forget the "switch" like brakes. So I think its all relative......