And the M3 would still post faster times? They did this comparison many times in many magazines and on many shows hahahaha Even though the RS line is more of a competitor towards the "CSL" since it is significantly more money than just a "base" m3. The S4 is more on par with the M3 even though it hasn't seemed that way of late since the M3 blows line out of the water and they need to resort to the RS line to compete. I will admit the new/up-and-coming V6 Twin Screw RS4 should be a torque monster.
I would say the M3 is between the S4 and RS4. When and if the RS5 is released, it might be more of a competitor... but it is heavier and more of a GT. No other everyday luxury car beats a BMW around a track though .