I have a 03 E46 330i and I think it is m-sport as it is full black and very low suspension plus has m wheels, etc.
It was a japan grey import and the condition of the car was good. As advised by others, best to go to a BMW specialist to check it out.
I did and the essentials were all good. The only downside with mine was interior which had scratch marks over the plastics, etc.
I bought it at around RM130K almost 2 years ago so at the price you mentioned earlier about the one you were interested in it sounded like it is a good deal!
My daily commute is KL to Klang and back and I do outstation at least twice a month (to Penang JB or Kuantan), so I would clock about 40,000km a year.
I agree that a 330i is special and if you can afford to, choose it over the 325i.
But maintenance even with a good car can be quite high.
Mine drinks engine oil so I have to service the car every 10,000km (that's when the engine oil light comes on). As I drive the car pretty hard and on long distance, I added a oil cooler as well to protect the transmission.
Over the 18+mths I have also replaced thermometer sensor, all brake pads, spark plugs, transmission oil+coolant, power steering pump, one bush/ball joint for back left strut/suspension, cam sensors and the thingamajig rubber seal that keeps the engine oil inside the engine (and added the oil cooler).
Not taking into account the routine service items like engine oil, tyres etc, I think I have spent around RM4-5K a year on the above. Calc that over the 40,000km a year, it is about RM1k per 10,000km. And this is on the basis that I use a guy in Segambut (a retired AB mechanic) and is relatively much more economical than AB. He often does not charge me for niggly sounds and feelings I have about the car and he would test drive the car for 15mins and there is nothing wrong. So I feel kinda lucky too.
So be prepared to spend money on maintenance. Once you have bought your car, I would be more than happy to recommend you this mechanic.