Hi James.
Good to see you back mate.
Having personally tried all the options you've mention I'd go with
Option 2) as it's the best all rounder IMHO with an addition of 10 mm, 12 mm or 15 mm, spacers front & back. It's what I'm running on my Cecil with full PHAT CUPs
It's great on track and good on the road.
Option 3) 265/35/18 is Great On Track but U'll still need 12 mm spacers at the back to dial out some of the extra " steer from the rear ". Unfortunately with this option it will tramline on the road, especially on UK 'B' roads
I hope this helps and pix of the E46 M3 ASAP pleeeez !
