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I would say go for it. The E36 generation M3s are a lot of fun. I used to have a 1997 E36 M3 in the Artic Silver Metallic.
RBs are fine on the E36s.............the weak spot though is on the cooling system, so make sure things are in order. So at over 100K, be prepared (or be proactive) to replace the radiator, thermostat, and the overflow plastic cooling tank.
Electronics are generally ok, although I remember having to have my climate control module repaired as it went out one day (google capacitor fix for the E36 climate control modules).
Not sure you want an automatic though....
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