Get a 3.64 limited slip differential or a 3.73.
I replaced the open 3.46 with a fresh 3.64 limited slip last night. I think for around town, it is definitely the most noticeable improvement I've made. It is more noticeable than the JimC chip, the MAF, or the 15 pound flywheel. I suspect the 3.91:1 rear gears would be too short to make first gear usable on these cars.
I am happy with the Bilstein sports I put on my car with lowering springs. I've heard from several enthusiasts, that Koni's may offer the same performance with a better ride. Many m3 guys seem to prefer the Koni's.