Timothy “Tiff” Needell of Fifth Gear has the best job in the world. He gets to test drive and tear the living crap out of the most sought after sports cars for our viewing enjoyment.

In this latest video, Needell drives the car every auto enthusiast has been waiting for, the new BMW M3. The outgoing E46 M3 model which Tami drives, is one of Tiff’s all time favorites.

The new M3 is more powerful and boasts a ‘power’ button to make it even more aggressive. On paper all the indications are good, but there’s really only one way to find out for sure - put the man in the driving seat and let him floor the gas pedal.

BMW launched the E92 M3 on September 8th 2007 in the UK. Looking similar to the 335i BMW Coupe but with a new front air dam, quad exhaust pipes, an aggressive hood bulge, an M6 style carbon fibre-reinforced roof and vents on the front quarter panels reminiscent of the E46 M3.

The E92 M3 is powered by a 4.0 L V8 engine, instead of theinline-6 engine as used in the last generation E46 M3. While the E92 M3 resembles the regular E92 3 series, almost all the body panels are unique to the M3. The engine produces 420 hp at 8,300 rpm, and peak torque is 295 lb-ft at 3,900 rpm, which represents a power increase of 22% over the E46 M3.

The new V8 weighs 33 lbs less than the outgoing six cylinder for a total weight of 445 lbs. The styling follows the trend of slightly more aggressive M cars as started by the E60 M5. A six-speed manual transmission will be standard. While an SMG transmission was initially expected to be available as an option later, BMW is said to be planning the introduction of an all-new double-clutch gearbox, titled DCT, a year after the release of the E92 M3. It is predicted to be sold in the United States starting in the middle of 2008.

I can’t wait to get my hands on one!