I've owned one for over a decade now. Prettiest of all the E36 cars, that's for sure
Mine is a 5-speed and has over 230k on it. No way in hell I'd let it go for 3k... I know nobody puts any value on old cars in good shape, that is why I will probably drive it forever.
To me, it has all the advantages of the E30 - relatively light, simple, easy to maintain, no gadgets to break down with old age, great handling, etc. plus some advantages of the E36 like safety, more refinement, etc. I love mine.
The cars are well put together, in 1995 the plant where the car was built (Dingolfing, Germany) got a JD Power award for putting out the best build quality of all the car plants that JD Power surveyed.
I think the biggest issue with the M42 engine that this car has under the hood is that everyone puts 5W30 oil in it, leading to premature wear. The manual says 10W40 or 20W50 when temperatures are above 0, everyone seems to ignore that.