Quote:
Originally Posted by _Nathan_
but they don't have to pass type approval...
Credit to BMW, they'd made an extreme version of the M3, more extreme than the CSL, I think it is awesome, a 2 seater, caged M3 with adjustable suspension and decent brakes, less weight and a bigger engine
Wait until the tuners get hold of that 4.4 too - 500+ bhp 
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Well said Nathan
As others seem to be mooting, I don't think that you can directly compare this with an E46 M3 CSL. These are totally different cars with several years of R&D and advances in technology between them. This is not being touted as the spiritual successor or 'son of CSL' after all...
Like others have also said, yes - you could take a standard E92 M3 and turn it into something very similar for probably less money, but that does not make it an M3 GTS/GT4 just like tuning or modifiying a Porsche 997 C2S does not make it a genuine Porsche 997 GT3...
I do think that early indications of its
'proposed price' do seem a tad on the steep side, but that said, i would certainly be very very interested in such a rare car when it is 3 years old and has shed a big amount of value, making it a superb track focussed bargain!