What do you want? What's your intentions for the car? What plans for mods? What's your budget for car and mods?

Personally, the e36 sedans look the best even though your example doesn't depict it. BMW BBS Style 5's don't look that great on e36's.

You can put stock M3 cams and valve train in a 328i and be halfway to making the additional 40hp of an M3. The 328i also takes boost better than an M3.

You can build a '94-'95 325i with bilsteins, lowering springs, m3 wheels, and a decent turbo setup for around the price of an M3.

Stock the e36 M3 sedan looks the best!