Have you done HPDEs? If not, start there. Be reasonable and learn, and there will be no more chance of damaging your M3 than on the street. Then after you get a feel for it, if you want something dedicated which you can mod without worrying about its value or street manners, knock yourself out. BTW, don't look down on the E36 M3 just like that. Sure it's "only" 240hp relative to your 333 but it's also 240 ft lbs relative to your 262, and 200 lbs less weight. That translates into not that much performance difference at subsonic speeds (eg about half a sec 0-60). You'll have tons of fun with a stock E36 M3 with some track suspension and brakes and when you outgrow the power, there are many options which are documented almost well enough to be an IKEA step by step pamphlet.