That chassis testing video was painful to watch!
e39M is a strange car, imo. It makes an awesome daily, precisely because it's the least "M" of the M cars, prior to the F10/F8X. Easy, comfortable speed. And simple enough that they're pretty bullet proof if you don't mod them overly much. I do find the e39's reputation strange, though, precisely because it's so not "M". The e28, e34, and e60 have high specfic output engines that need to be revved to be fast. They're what an "M" car should be. The e39m is torquey and low specific output. Torque makes things boring and uninvolving, when you're really trying to work a car over. Strangely, I think the car that BMW has made that drives the most similarly to the e39m is the F80 M3. Similar dimensions as well (F80 is larger, e39 is heavier), as well as similarly shitty steering feel (reticulating ball in the e39m isn't great, though still WAY better than the F8X's EPS... 6 cylinder e39's got R&P which was much better), in addition to the similar power delivery (though the F8X has more, e39 is lag free).
I love driving mine, 80-150 miles, every day. Perfect "beater" (daily) to keep the e46 nice. Largely because it's so completely unlike the e46m, making them very different and distinct experiences. The e46 is loud, stiff, revvy and INVOLVING-- a reliable/practical/well made early/mid 90s exotic, in driving experience. Everything the e39m isn't, for good and bad.
I don't actually think there's a period in which the M3 and M5 were more different than e46/e39. Now I just need to add a V12 e38 for my limo having needs
... seriously is my next car... Mostly because I want to have a V12 in my fleet before they're all gone, and it's the only one in my price range that I'd like to own.