C&D numbers for the Evo VIII and the E46 M3
Evo VIII MR- 0-60 in 4.8; 0-100 in 12.6; 0-130 in 25; 1/4 mile in 13.6; rolling start (5-60) in 6.3
BMW E46 M3- 0-60 in 4.5; 0-100 in 11.2; 0-130 in 20.1; 1/4 mile in 13.1; rolling start (5-60) in 5.2
The Evo is a MR edition, w/ 276 hp, 286 lb-ft, and a 6 speed
The M3 is a 6-sp manual, with options that make the car weigh 3,500+ lbs
For a $30,000 car ($36k for the MR), the Evo is a very solid sports car. Its generally considered to be a great buy for auto enthusiasts. It also has the advantage of being turbocharged, and therefore has the potential for much more power then its putting out stock. The M3 is a very different car. The N/A S54 engine is alot better at getting power when you need it then the Evo's. The M3 is stronger, and has a better power to weight ratio. This is just performance we are talking about though, I will only briefly mention how vastly superior BMW 3-series interior is compared to the Evo's.
The Evo is a joy on the track, but doesn't have the road manners of the M3.