Michael Yount
Mustang Master
My understanding on some of the new (high redline) M3 failures (if that's the engine you're referring to - 2001 is confusing me) is that it's a oil pump/lubrication issue limited to the first couple of thousand cars, which the company has apparently caught and solved, with quiet repairs and even buy-backs on some of the cars. Some have attributed it to/say it's exacerbated by use of something other than the 10W-60 synthetic required by BMW and not available for purchase anywhere else at the time the car was introduced.