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I have yet to see anyone discuss this, but over on the E46 board it has created quite the stir. The soon to be released 08 Chevy Cobalt SS Turbo matched the E46 M3 with 8.22 around the Nurburgring, and beating the 335i by 4 seconds.
Not bad at all. I wonder if they'll have factory upgrades that will not void the warranty. I know the supercharged version had pulleys and ecu upgrades available. Considering their price, they have decent features and a decent interior. I don't see myself getting rid of a car to get one, but for people shopping that market, it seems to be worth a look.
It's interesting they have a NLTS setup on the car from the factory. Are they keeping the car fwd? I would assume so.
It is a FWD, but what I found interesting is that apparently Lotus had a hand in tuning the suspension. Which makes the M3 boys bitchy, I like my E46 but like I tell them, they are old news now.