well i don't really have much to say but syr74 stated that the cobra has a history of being underated from the factory. well the same can be said about a GTR. a car that weights 3500lbs and runs a 12.9 in the 1/4 can no way make only 276hp. most GTR are dynoing around 300whp stock. so just because nissan decides to rate it at 475 hp doesn't mean its actually goin to be only 475hp. they just rating it there so that insurance would be easier on the wallet.
and also almost any RB26 powered GTR will beat a E46 M3 stock for stock. the R33's official lap time on the ring is 8:01 second driven by Kurosawa. and hte unofficial lap time for the R34 is around 7:57 seconds. the E46 M3 can't even come close to breaking the 8 minute barrier and not even the M3 CSL can break the 8 minute barrier. the E46 is just too heavy for the race track to be really fast. even a Z33 350Z track model will lap just as fast as the M. and the RB powered GTR's will run circles around it. remember the car is very underated so the M3 won't even have a top end advantage over it. the Z33 350Z weights 3200lbs. and the 18 inch alloys made by rays engineering is actually lighter then the 17 inch alloys used for the base model.