Initial Thoughts
The first time I saw an M3 in the late-1980s, I was awestruck. At the time, there was nothing on the road like this little, winged, flared-fendered, four-cylinder. In the intervening twenty-odd years, the M3 has gotten bigger, more powerful and more capable. Rear-wheel drive has always been part of the formula, but since the M3's grown up, the four- and six-cylinders have been replaced with a mighty 4.0-litre V8.

This latest M3 is now at the end of its run. Enthusiasts will shed a tear because it's also the end for this special V8 from BMW's M division. If the next generation M5 is any indication, expect that this M3 is the last to have a bespoke, normally aspirated powerplant. With tightening emission and fuel consumption regulations, I expect the next generation M3 engine to be an enhanced, turbocharged version of one already in the BMW fleet.

Performance
Want proof that an M3 can do double duty by being both a street and track car? Look no further than the fact that the car I tested - the same one you see in the photos - was first put to the test in our Drive Like A Pro series before coming home with me as my test car the week. In fact, prior to that, this car was no pampered press car, but was part of the fleet at BMW Driver Training.

Although the tires and brakes were worn beyond what its mileage dictated, the M3 drove much like a new car. Even after two days of high-speed hooning, the M3 was as docile on the road as any other 3 Series. Except that this '3' has a 414 horsepower V8 under the hood, a high-tech seven-speed automated manual transmission and flared fenders to hide the massive 19-inch wheels.

There's nothing quite like the sound of a BMW V8 under full song to get you excited about driving. This 32-valve engine has eight individual throttles and loves to rev. In fact, it makes maximum power way up at 8,300 rpm. Shifting the M3 at over 8,000 revs is a reward in itself. Purists can complain, but I enjoyed the dual-clutch automated manual transmission. It works wonderfully on the track and on the street.

All that revving, however, leads to a minor penalty at the pump. I averaged 17.1 L/100 km in mixed city and highway, but, since the M3 was so much fun to drive, fuel economy was entirely irrelevant to me. Note there is a switchable engine stop-start function and it makes wonderful sense for urban stop-and-go driving.

Ergonomics/Comfort/Quality
As BMW consistently does, the interface between driver and car was perfectly designed. The driver's seat has a full range of adjustment so that the pilot can optimize both comfort and control of the coupe. The wheel has a wide range of adjustment for perfect positioning. There are few cars that get this as right as the M3.

With the new BMW 3 Series here, the interior's design is starting to feel dated. Materials and finishes are high quality, but the shapes and displays are starting to get their age on.

There was nary a complaint from my teenager when getting in an out of the back seat. Both the driver and passenger seat move efficiently out of the way for rear seat passengers. Once in the back, there is a reasonable amount of head and leg room and the seats are comfortable, too.

Functionality/Usability
Trunk space is above average for a two-door coupe and a split-folding rear seat lends some additional versatility to the M3. The size of the 3 Series is a wonderful compromise between exterior dimensions, for urban maneuverability, and interior volume, for passenger comfort.

Conclusion
This sports coupe segment has some real competition among the other German marques. Audi's S5 also has V8 power with 354 horsepower and, while not as sharp as the M3, benefits from a standard all-wheel drive system for better traction during our Canadian winters. The S5 also undercuts the M3's price and starts at $60,500. The Mercedes-Benz C63 AMG coupe starts at $66,900 and the sound of the 6.2-litre, 451 horsepower AMG V8 will cause the hair on your neck to stand on end.

The M3 is a little pricier than those other German coupes at $71,700 and, as tested, was a serious $79,800, but the M3 is desired for its complete, performance-focused package. BMW enthusiasts, get yours now, because this is likely the last chance you'll have to own an M car with an engine like this.