The net effect of these modifications was most impressive. Horsepower at the rear wheels jumped from 190 (stock) to 276, and torque increased a similar amount. 0-60 dropped 1.5 seconds to 5.2, and the 1/4 mile went by in 13.7 @ 104 mph, an improvement of 1.2 seconds. This performance eclipses the stock car and nips at the heels of the '00 M5 (5.0 and 13.5 @ 106). Similar, though less quantitative, improvements were had in handling, with both turn-in and ultimate grip far improved over stock. All this, and the M3 still goes, stops and turns like a factory car -- the car the factory should have built!
Addendum: Never being one to leave good enough alone, the M3 recently got a RaceMarque air-to-water intercooler for increased reliability and performance.  This addition bumped the power to 299 RWHP and 250 RWTQ even though California premium gas has dropped from 92 to 91 octane.  If I weren't spoiled by the Viper, I'd say this is a fast little car!
Vitae:
1998 BMW M3 Convertible, 5-speed automatic/
Fully loaded from factory: Magma leather interior, Harmon-Kardon stereo, CD changer, cruise control, on-board computer, power windows / doors / seats / top.
16,700 miles on odo.
Dinan S3 package installed at Dinan headquarters at 11,000 miles: Intake, exhaust, computer update, transmission chip, supercharger, fuel system; stage 3 suspension upgrade.
Additional modifications: Korman 3.73 rear differential upgrade, SSR Integrale 18x8" wheels, Pilot Sport 235/35-18 tires (3500 miles on wheels/tires).
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