Just found this build log. Love it! And let me commend your great taste in cars! A 3.2 Carrera, e46 M3, and NA Miata make a killer combo! It's similar to my own.
I used to track NA's and NB's at Texas World Speedway and enjoyed wrenching and running them immensley. I sold the last one when the track shut down and bought an S2K to enjoy for a bit before finally finding the '85 Carrera coupe I'd always wanted. That joins a 330i ZHP e46 as my daily. I wanted an e46 M3 in your exact color, but my wife vetoed a 2-door as a daily since we've got elementary-aged kids. I can't complain as she did give me the thumbs up on dumping a bunch of aftermarket parts into it to make it a perfect track/kingergarten-shuttle sedan! Between that and the 911, I'm a lucky man! I still hope we get a replacement track one day in our neck of the woods. If we do, another miata will surely join the fleet!