If you were familiar with previous models, you would recognize the 2008 BMW M3, but there have been some changes. Most notably the side panels are different, and where there was a recess in the center of the hood there is now a power dome.

Other vehicles in this class include the Mercedes-Benz C and CLK classes, Cadillac CTS, Lexus IS F, Porsche 911 and the Audi RS 4. Compared to them the M3 is rated as having a lower base price ($53,800 for the sedan) and more power than most of the class. On the downside, the M3 gets about a mile per gallon less than average for the class and is about a foot shorter which is good for parking but not for interior legroom.

The outside is not the only thing that has changed. The new M3 is powered by its first V8 engine, a monster 414 horsepower 4.0 liter mated standard with a six-speed manual transmission with overdrive. There is something new here, too, as a seven-speed M Double-Clutch transmission with Drivelogic is also available. Basic fuel economy is 14 miles per gallon city and 20 miles per gallon on the highway.

There are three versions of the M3: coupe, convertible and sedan. Except for the obvious, they are similar. However, drag pulls the economy figures down one mile per hour in each category with the convertible.

No specific testing has been done on the M3, but the 3-Series in general gets five stars from NHTSA for side crash test ratings and four stars everywhere else. Not bad, but not particularly impressive, either. Safety features include an inside trunk safety release, airbags all around (including head protection for the convertible), antilock brakes, electronic brake assistance, limited slip/locking differential, traction control, vehicle stability control and tire pressure monitor. You can also get an electronic parking aid.

As you would expect, the M3 is loaded with goodies. Some of the standard ones are power, leather seats with memory and power lumbar support; leather tilt/telescopic steering wheel; trip computer; and CD player. Optional goodies include a telematic system similar to OnStar, navigation system, heated front seat, second row folding seat and sunroof. What is surprising is some of the items the M3 does not offer, including adjustable foot pedals, CD changer and hands-free cell phone system.

Base price for the coupe is $56,500 and for the convertible is $64,950. The 2008 BMW M3 is a nice car, as any vehicle in this price range would be. And the folks who spend that kind of money for a car generally don't have to worry about pinching pennies. Still, everybody likes to get their money's worth and if you're going to spend that kind of money, given the safety issues, size and lack of some of the nicer options, the M3 probably shouldn't be the only place you look.