I've owned/own both. I wouldn't trade my new M235i for my old M3. Sure the M3 is slightly faster, but only if you're ringing it out to redline. The 235 handles really well, the throttle, brakes, and steering are very lively and responsive. The steering is quicker and more direct in the 235, maybe the feel isn't as good, but I can't tell driving around town. You can power slide the 235 around turns with ease (thanks to the instant torque). I turned off the traction control this morning and did burnout that was a good 80-100 ft long with both tires spinning the whole way. The bits and pieces that make an M3 special aren't there on the M235i, but you can't tell behind the wheel. The M3 may have slightly better seats and a higher trim level, but the 235 has latest infotainment & navigation technology. For me as a daily driver, I'll take the M235i all day long. It's just funner car to drive on public roads.
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