The overall exhaust itself is a better design than the E46 M3, For starters we have a true X pipe and that right there kills the rasp, I think we have 2 more cats? Or something that kills a little power in our exhausts over the M3? anyone feel free to chime in/correct me
and again duplicating O-cha's comments I have a few buddies with a E46 M3 and they preferred the sound of the Z4,
Its a lot more growl and grunt at high rpm than raspy tinny noise that comes from the M3,
and yeah it sounds awesome from the inside, and better when the tops down, suns shining and your looking at 7900RPM on the tach