By Gary and Genie Anderson

courtesy bmw

There are cars that are destined for classic status from the day they’re produced. Fortunate are the few who recognize this trait and buy the car when it’s new, then treasure and enjoy the car as it acquires the patina of enthusiastic use. Two cars we’ve driven recently qualify for this distinction, the 2006 BMW M3 convertible and coupe.

A few weeks ago, our motoring journalist group spent a day at Mazda Raceway Laguna Seca to test a wide range of new cars; among them was the M3 Coupe equipped with the track competition package. Last week we had the opportunity to enjoy the M3 convertible with a sequential manual gearbox.

There’s no question that the new 3-series is the best that BMW has yet built. However, while this model may represent the wave of the future, some automotive reviewers have called the electronic safeguards and conveniences too much of a good thing.

But for the enthusiast there is still hope, at least for a few more months. The coupe and convertible versions of the old 3-series will be built through the rest of this model year. Order either of them in the high-performance M3 model, and you’ll have the best driving car we think BMW has ever offered.

In both versions, power comes from a 3.2-liter high-compression engine built to racing specifications with modifications that permit high-rpm performance. Stainless steel competition headers and a four-outlet exhaust contribute to both the car’s performance and its aggressive appearance.

This engine not only produces 333 horsepower at top end, but with the improved engine components, offers smooth, usable power throughout the rev range. When we took the sport coupe onto the long front straightaway on the Laguna Seca track, its ability to go from zero to 60 in 4.8 seconds left us literally gasping for breath.

Taking it through the corners was no less thrilling. For our money, BMW suspension engineers are the best in the business, so the car’s exceptional handling was no surprise. In standard mode, the car stays level, and the dynamic stability control automatically catches the car at the first hint of a slide. With the car’s subtle assistance, we could almost believe we were ready for a contract with a big-time racing team.

But for true fun, all we had to do was click the optional “Dynamic Mode” button on the steering wheel, and we could let the rear end slide out a little when desired, just like the real pros will do to set up for the exit on a tight corner.

The version we were driving had the optional competition package, for the driver who wants the thrill of track driving at BMW Car Club events that are held regularly at regional racetracks. Opt for the competition package on the M3 and you get 19-inch wheels with cross-drilled aluminum-hub brakes and other nice touches, including a suede steering wheel that has a surface like the inside of a pair of driving gloves.

But what about time off the track? Granted, the competition-equipped M3 is a bit taut, so you do feel the bumps more than in a Lexus or Mercedes. But with three friends comfortably seated in the leather interior and a few golf bags in the trunk, that just makes the dual-purpose personality of this car more fun to brag about. If we were buying the coupe, we’d opt for the competition package.

For those who prefer top-down back road tours, the M3 is also available as a convertible. With the automatic soft-top tucked away under an integral tonneau cover, the convertible was in its element on our favorite driving loop, up the tight corners of La Honda Road, down Skyline Drive to descend on Highway 9 into Saratoga, with a final dash up Interstate 280 to home.

Our convertible was equipped with BMW’s Sequential-Manual Gearbox. Directed by a gear knob on the console, this manual transmission has a hydraulic clutch, controlled with steering wheel paddles or the console gear knob but with an automatic drive mode for long commutes. It took a little practice to overcome a hesitation at slow engine and vehicle speeds, but a fast-shifting transmission is clearly the wave of the future.

If you’ve ever thought about acquiring a BMW 3-series, the current-year M3 is a perfect choice. If you don’t see yourself on the track, then opt for the convertible. We liked the Sequential-Manual Gearbox, but the six-speed manual will suit traditionalists.

The BMW M3 sport coupe, including the $4,000 competition package, is stickered at $55,070. With a navigation system, sequential-manual gear box, Harman-Kardon sound sytem and 19-inch alloy wheels, the M3 convertible had an MSRP of $67,070.

No matter which you choose, the BMW M3 for 2006 will be a great car to own and enjoy. In five years, it will mark its owner as one of those discerning connoisseurs who buys the best. And in 15 or 20 years, this will be one of those cars that people who missed out the first time will want to add to their collections.