I finally got some more work done on the car! Most importantly, she's now inspected & legal. The stickers expired about three years ago - slightly before I bought her

. She needed front CABs, a muffler and two front tires. I'd already installed the CABs & decided on a cheap ~$40 Thrush Turbo can. The Thrush is substantially smaller than the stock can, so I left two rusted scrap hangars in the trunk and my mechanic welded it all together. The muffler isn't that much louder, we'll see how long it holds up.
I'd also installed a set of used OEM BMW front pads (Textar) to try them out. They definitely have better feel than the EBC Greens they replaced. The EBC Greens do last a long time, and didn't destroy my Ate PowerDisc rotors - that setup has been on the car for two years and still has a lot of life left.
I also took a crack at DIY string alignment. Surprisingly, it seems to have helped out significantly, though the car still pulls a bit to the right. The M3 offset CABs - highly recommended BTW - makes the car oh-so-much more more willing to take a turn.
I'll likely install the cheap KW 1.5" drop springs I ordered off Ebay if they get here this week. The e36 rack & spacers are still sitting in the garage - hopefully that'll get done this weekend.