I would say that if money isn't a factor then definitely go with the M3. Don't get me wrong, I absolutely love my ZHP but the M3 is on a totally different level. It really isn't fair to compare the two. Like Nelson330ci said, the M3 should be compared to other sports cars such as Corvette, Porcshe, etc...
The deciding factor for me between the ZHP and the M3 was the insurance cost. I wanted the M3 so bad but it would've cost me almost triple what I pay a year for my car and I just couldn't squeeze that into my budget. (I admit its my own fault for getting too many tickets
). Also, the M3 will cost you anywhere between 5 to 10 grand more than the ZHP.
As far as handling, I would say that the suspension is pretty close. The ZHP feels like its riding on rails. Acceleration, no contest. The ZHP does 0-60 in 5.9 seconds and the M3 in like 4.7 seconds. The exhaust on the ZHP is a little throaty, more so than a regular 330 but maybe not as much as the M3.