As has already been suggested, recreating a "New E30 M3" could only be done with a one series, down to it's physical weight and size. It would certainly be interesting to see what M division could produce now.
As for the original, fanbloodytastic, just my sort of car, and still a template for what a performance car should have as ingredients. Light, communicative, intimate and fun - exactly what the new car lacks.
Personally you can keep the new M3 (also have to disagree on the fact it is "the horniest looking car on the road"), I'll have the old one any day.
It's all about the twisties....