I am a very loyal BMW enthusiast and will recommend an M3 all day long.
But for 10k you will have to look at the previous generation E36. Now for 10k you should get a nice Evo Model (3.2).
Vanos's can go on these cars and are 2k a pop from BMW. But don't let this put you off it is not guaranteed to go at all just luck.
Recommendation to avoid the SMG models. Although the idea is great if it goes wrong, and they do quite frequently, be prepared to spend $$ fixing it. Also there are not many people knowledgable on these.
But if you are looking at M3's take your time and look at a few. They do get driven hard and a few will have been in accidents and stuff.
But when you find a decent one...wow.
Also don't let mileage put you off. I have run 5 BMW's (latest one was a Z3 2.8) all with well over 100k and they were like new. I still have an E30 318is which I use as a track toy (my budget project) which has covered 168k on its little 4 cyclinder engine and it gets driven really hard!!
Any further questions let me know.