2003 m3 questions

Hello, I'm new to these forums so if I didn't post this is in the right area sorry. But I was thinking about buying a 2003 BMW m3 coupe with78,000 miles for 16k. Would this be a good price? Also does the e46 m3 have good torque to make it a fun drive I know the top speed without limiter is pretty fast but I guess what I'm wondering is if it is quick. Will I be able to beat my friends 2004 Subaru wax sti? I have heard I would blow it away because BMW m3's are some of the best made cars around performance,looks, and quality wise. I will of course test drive the car but I don't want to drive almost 300 miles to be disappointed from what I've heard. Oh and it's silver with a read leather interior the smg Version. If that helps