The three models use two engines, which were new in 2001. The Coupe and 3.0i Roadster use a 225-horsepower 3.0-liter double overhead-cam inline-6, while the 2.5i Roadster uses a 184-horsepower 2.5-liter version of that smooth mill with variable-valve timing. A five-speed gearbox is standard (beefier with the 3.0), while a five-speed Steptronic (manually operated automatic) is optional.

Significant standard features on all models are BMW's DSC (electronic stability program), vented front discs on four-wheel ABS, two-stage front airbags plus side airbags in the doors, a zero-maintenance battery, and Coded Driveaway Protection, an anti-theft system which prevents the car from being started without your key.

2.5i gets 16-inch wheels and leatherette upholstery (leather optional), with four-way power driver's seat and two-way passenger seat.

Coupe and 3.0i come standard with 17-inch wheels, leather, four-way seats, an in-dash CD player and Harman Kardon audio system (optional on the 2.5i).

Options include a power top or removable hardtop with heated rear window for the Roadsters; and, for all three models, heated seats and a six-disc player installed by BMW dealers. A Sport Package includes 17-inch cross spoke wheels and sport seats, plus brushed aluminum trim and a mesh front air intake.

In addition to the Z3s, BMW offers the M Coupe and M Roadster. Although these cars are in the M line with the five-seat M3 Coupe and Convertible, they're actually more like Z3s, using the same basic bodywork. If 225 horsepower isn't enough for you from the 3.0-liter Z3, the M is what you want, with a 3.2-liter engine producing a killer 315 horsepower. The Roadster sells for $45,990, including freight; the Coupe retails for $44,990.