Agreed. The M3 is a chavs car. I see so many of them driven by nob'eds who have no idea how to drive, but they want it for the name. To be honest, I would never buy a BMW purely for that reason.. I wouldn't want to be associated with a large portion of BMWs demographic. Now that may sound snobbish, but unfortunately that really is how I feel about them.
Under normal driving conditions (not on a race track etc) the S4 has been proven to be quicker than the M3. That leads me to believe that the S5 will do even better. The RS4 has proven quicker than the new not yet for sale M3 coupe, so I can only imagine that the new RS4 and the RS5 will blow it out of the water on the track as well as continue to do so on the roads.