I ran with my friend's 02 330 and surprisingly he beat me by only one car length, keep in mind I have a Tip 2.8. Actually took him off the line but he quickly passed me. So with a chipped 1.8T you should have a pretty good chance.

 

i think you could probably take him with 100 octane chip and full exhaust, and take out your spare and stuff

 

[quote]My friends 99 M3 does a 14.6 only...and i'd assume that is faster then just a regular 3 series[quote]

Then ur friend doesnt know how to drive, or his car is fubar....lol. I raced a 98 m3 with basic bolt ons and I was putting down ~240whp, and I barely pulled him.
But a chipped fwd a4 should be able to take a 97 328.

 

there's something wrong with him or his car, all ive seen do around 14.2 14.1 e36 m3s