The proof's in the pudding, so stop rationalizing, and just go drive them! And if you really like the E46 (any model) better than the E36 after doing so, then maybe what you really want is a 5 series! This is a highly biased opinion from someone who owns both an E30 and an E36 M3, and who considers the E46, even the 330i, a bore. My $0.02. Good luck!