Sure there are lots of diff cars out there to each their own
Once you spend some quality seat time in a 6SP E46 M3 you will not have any issues dropping 20k. The key is to compare the condition and service history on the cheaper ones.
It took me 6 months to track down my M3. lots of test drives and looking for service records. If the S54 does not get it's regular 50,000 km service adjustments, walk away from the thing. Most cars and owers I spoke too prior to the sale, did not even know about the Service I and II. The cars were ran hard and put away wet
Finally found a single owner, full dealer serviced car 2 years ago with 100,000km. Could not be happier. That is A LOT of car for the money when you drive it.
Take your time and enjoy the hunt,