1. For those who have driven both, are the extra 200 lbs in the front really that noticeable, and does it effect any of it's other characteristics?
2. Are replacement parts to be had? If so where? I can't seem to find them either...
3. I keep hearing the m42 is more reliable than the m20 can someone explain to me what's more reliable about it? (I do know about the valves ticking on the m20)
1. It's more like ~40 in the front (two extra cylinders), 20 in the middle (transmission, extra interior options), and maybe 10 in the rear (medium case diff). It does not really impact the performance, especially since there is ~30 extra HP on tap. But it really drives differently due to the differences in power band/torque and the way it revs.
2. Replacement parts are just as readily available as for any E30, at least online. I wouldn't trust (or pay more) for in stock auto store parts. As far as engine performance (especially internals) there is less to be had vs. the M20, but there is more than enough to choose from.
3. Much more reliable, maybe not on the street as there are so many variables, but certainly on the track. Our Chump Car has maybe 70 hours track time on a non rebuilt 100k+ mile engine and has not failed. I cannot say the same for the M20 cars which are forever breaking rocker arms and having distributor issues.
In summary, buy the M42 if you like the concept of a peppy, spirited and split personality (in a good way) (in the way it can poke around town or fly to redline) car, or buy the M20 if you want to be like everyone else and kneel down at the altar of power. Whatever you do, don't buy an M42 and M50 swap it, know in advance if you can live with 136 stock (~155-60 with basic mods) HP.
The reasonable fuel mileage does not hurt either.