Both cars are pretty similar, if you plan on keeping the car for a long time I'd say the Z. BMW's tend to get pretting maintenance intensive as the miles pile on. For the record my wife and I between us have owned 3 M3's...great cars but as the miles came on (65K) range they need more attention.
Either one I'm sure you'll be happy...performance stock VS stock they are close with of course the edge going to the Z when it comes to handling. However, from a looks perspective, I like the Z better. Good luck...either way!
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Chris 
Current: 2014 WRX Stage I + SPT / 2013 Hayabusa 202HP
Former:09 370Z 7-AT PW/Ark Type 2 exhaust/Evo R lip/TSW Nurburgring carbon
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