Doubt it. Back in the day, my 5.0L ripped a new a$$hole in many an E36 M3 that stepped up. One word for you: OVERHYPED!
That car's junk, bud. The only thing going for it is resale because people believe in the BMW name. Bah... Some SRT-4's are putting down a 13.9 quarter. That will absolutely smoke an E36 M3, just as my old 5.0 did, with 1979 technology. BIG DEAL! Come to think of it... that little turbo POS will even beat most 5.0L's with light mods...
It's OK to give props where due. Dodge did a *really* good thing here... yeah, it's a neon, but it's hella fast, and largely revised. If you have an older M3, maybe you'll get lucky and Dodge's turbo 2.4L will bolt right in???
Massiv.
Fist off, I'm not discrediting the neon. It is an incredible performer for the price. I'm just saying that the 2 door manual 96+ E36 m3 ran about a 14 flat quarter bone stock (no killing there), not to mention had great handeling and braking. There were automatics and convertibles and four door versions that were slower, but nothing above a mid 14 (these you could kill I suppose).
Second, if you call an e36 m3 a piece of junk, you have major problems. Have you driven one? I have. I get a little angry when people think performance is the only attribute of a car that is indicative of value. Look at the contour svt. It is a limited production grocery-getter that runs mid 15s. Big deal. Still, there are a lot of people out there that love it, myself included. The new cobra would kill an Acura NSX. Which one would you rather be in at the end of the day?
95 SE Modded - Gone
98 E0 Black SVT - Gone
98 se sport - Broken
00 T-Red SVT - Nice