VZRACER: The molding, when properly prepared, will work great with paint. I was considering to do it aswell when I was going to paint my car.
Also, I wouldnt recomend you only get smoked in the rears. If you are going to do your corners, get all clears or all smoked, you'll like it better. Just sta away from those "crystal" looking corners.
BIMMERBOY: Carefully remember why you own a BMW and not a civic. Your car was never really meant to be the speed demon it is often confused to be. What is way more fun to do with BMW's is upgrade suspension> If you got some cash, drop it into some coilovers. It will giv eyour car a much more agressive stance aswell as handling you would never expect in a sedan.
Now if you insist on more power, i'd recomend some camshafts. www.turnermotorsport.com
is a GREAT place to start. Shrick (as previously mentioned) makes some common/decent cams.
There are a lot of possibiities. Go to turner and look at everything they have.
If you have your heart set on a lot of power, forced iduction might be your only possibility. Ive never looked up F/I for a e46 but im sure htye have a wide variety here at www.aatuning.com
. AA has amazing packages and customer service.
Both of you, welcome to the boards!