Prestige is overrated. I've owned my share of BMW's and Benz's, but now I'm more into just buying what I like for what it is. Don't care what other people think.
So if you take away the "status" part of the M3, would you still prefer it over the Z? For me, no. I like the looks of the Z more, a Touring model has the same level of luxury, and bang for one's buck the Z is a performance bargain compared to the M3.
For the same reason, I'd also take a GT-R over a 911 Turbo. Except in the Porche's case, I like the 911's looks better than the GT-R.
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