The M3 and M4 are the same story. Like any limited-production, high performance car, whether it's Lexus, Audi, Porsche, Bentley, the exotic models in particular have very high performance parts which cost much more, and if you drive the car like the sports car it is, wear will increase. Also, because production volume is lower, the manufacturer has less reliability data to work from. So the issue of higher maintenance and repair costs isn't specific to the M5, but to cars of that nature. They're exotics.
Brake pad/rotor replacements parts costs, for example, are roughly $200-$250 for a basic Toyota, $500-$700 for a BMW, and over $1,000 for an exotic. Sometimes, prices are way over $1,000. And that's before labor.
I saw an awesome M4 at my dealer which has a water-injected turbocharger. Now, that's amazing technology, but it's brand new and very low volume. If it needs repair out of warranty... OUCH! It's gonna cost, baby!
Thanks for the replies. We decided not to get the M5. I'm still looking for me though. I have a thread going in the M3 and M4 area. Titled like this thread.