Thanks guys, nice write up so far. Good to see someone is experimenting with some new stuff.
Those E46 M3 disc`s look sick... But I don`t think it`s the way to go for most people.
I`m not a technical guy. So don`t be hard on me when I`m wrong.
I think putting a spacer between the hub and the disc can couse too many vibration when not installed right. As mentioned before, I don`t think many people can handle an extra trackwhith off 28mm also. Unless you are already running spacers and e36 offset wheels you can remove the spacers, which proberly get you into caliper clearance problems.
People who can handle the extra 14mm offset need some spacers at the rear aswell, to match the front wheel trackwhith, I think. Otherwise the car gets unbalanced and will oversteer easier in hard corners.
Good luck. Love to hear about the first test drive soon.