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The serpentine roads that meander through the picturesque mountains above Marbella in South of Spain proved to be the perfect proving grounds for the new BMW M3. The mostly two-lane system of roads snakes through the region like one long and continuously flowing S-Curve, and the M3 ate up every inch of it with aplomb. The further we journeyed in to the headlands, the more impressive BMW’s newest powerful sled became.

All new for 2008, the fourth-generation M3 is noticeably more sophisticated and elegant looking than its predecessors. Though it sports a familiar wedge shape, the new “King of the Road” isn’t as hard-edged as its no-so-distant ancestors. Its curves are smooth and sleek. But don’t let a sharper suit of armor fool you into thinking this bad boy went soft—quite the contrary is true. It still casts that an aggressive silhouette—with that mean-looking front end, huge wheel arches, more aerodynamic rear-end, and lightweight carbon-fiber roof—like it was born to tear up the asphalt.

Where there’s beauty, there’s beast. Under the hood, you’ll find a 4.0-liter V8—an M3 first. Based on the same 90-degree architecture as the M5’s V10, it produces 414 hp (SAE) at 8300 rpm; that’s 81 hp more than its predecessor. Torque has risen 33 lb-ft to 295 lb-ft at a high 3900 rpm. Power was never a problem as we climbed into and descended out of the mountains. In fact, the car seemed to be more at ease the harder we drove. It feels about as quick as the last 911 we drove.

To handle the V8’s power, BMW needed to come up with a new, stiffer chassis and suspension. Most of the components, including the front axle, are aluminum, for weight savings. On the road, we found the ride to be smooth, yet firm; you won’t feel every bump and bruise in the road, but it doesn’t exactly feel like you’re riding on a cushion of air either. It’s also quite agile, taking on even the tightest of turns with grace and poise. We never once lost traction. I would’ve liked to get more steering feedback though. That’s not to say the steering mechanism wasn’t responsive, it just wasn’t quite as tactile as the last M3. BMW obviously wants its wild child to mature which isn’t a bad idea. But it may irk some hardcore purists.

Finally, the six-speed manual gearbox’s action is a bit clunky compared to other 3-series transmissions—but still a lot of fun to row the gears. The manual is likely to be the only option at launch, ahead of the introduction of a new seven-speed double-clutch gearbox.

Still with what faults there were, the 2008 BMW M3 is one mean ride. It’s elegant, uber-powerful, great in the twisties, and it does so with a comfort level not many cars can deliver. But will it re-capture the M3’s title as King of the Road?

Look for the 2008 M3 to hit dealers early next spring at a price around $65,000. —Chuck Tannert