This is what Aardvarc Racing says about doing the conversion (not sure when this was last updated):
You've had your 2002 for 5 or 10 years, or maybe even longer. You've replaced just about everything. You know your car inside and out, having made many of the repairs and modifications yourself. You love your car, but it needs a motor. You want more power, but don't want to screw around with smog laws. The new M3 is sweet, but $40k is a ton of money, and insurance will bust you. What are you going to do with your baby?
AARDVARC RACING has the solution. Install an E30 M3 motor in your 2002. Your car will be faster than an E30 M3 and equally as fast as an E36 M3, for a fraction of the cost.
So why install an E30 M3 motor in a 2002?
Performance
200+ Horsepower (5.0 Mustang killer). Smog-legal. Will comply with current and future smog laws (less time and $ over the long haul). Can be modified to produce over 250 hp. Street-able performance. Smooth idle. Starts easily every morning. Simple and powerful. Why play with turbos, superchargers, or twin side draft/radical cam shaft performance options.? Weight. Will add less than 100 pounds to the weight of a 2002 (about 10 HP per 100 lbs!) Fast!
Reliability
M3 motor is nearly bullet-proof. Many E30 M3s on the road have over 150,000 miles and are still making very good power and remain good daily drivers (and occasional track cars). The Motronics ignition system is relatively simple and keeps the motor running smoothly all the times. Just change the oil and spark plugs, and adjust the valves every 40k miles.
Cost
Approximately the same cost as building a high output 2002 motor. The total cost of completing the M3 installation in a 2002 will range from approximately $6,000 to $10,000, depending on who performs the labor, the cost and completeness of the used M3 motor purchased, and the cost of the conversion parts and supplies.
Ease of Installation The M2 conversion kit is designed for the individual who is has a good mechanical background, and who likes to and succeeds in making repairs to Bimmers. Nothing fancy, but if you can repair brakes, change shocks and springs, wire stereos, replace a clutch, or change a differential, then the M2 conversion is something you can probably handle.
The conversion requires standard tools, and no welding or parts fabrication is necessary. The kit is designed for the shade-tree mechanic, so it is easy to understand, without too much technical information.
INTRODUCING THE AARDVARC RACING M2 CONVERSION KIT
AARDVARC Racing is pleased to announce its M2 conversion kit. The kit is unlike other conversion kits because it provides a modular system which appeals to both the shade-tree and the professional BMW mechanic. It is a flexible system which can be used by the aspiring M2 driver to reduce total conversion costs by providing various kit options, depending upon the mechanical aptitude of the installer, the facilities and time available, and the condition of the pre-conversion 2002.
For more information on the M2 Kit, contact
aardvarc@2002parts.com_________________
1973 2002 (still) Sahara "Inga"
1982 e21 Saphirblau "Max"
1987 e30 Zinnoberrot and still nameless...
"Why would I pay that much money for a 1981 BMW that looks...like a 1981 BMW?" -Charles William Jones, Jr.