One problem related to gas recirculation valve (egr valve) has been reported for the 2008 BMW M3. The most recently reported issues are listed below.
I was driving my car at bout 1am on a clear 45 degree morning. I was driving at about 54 mph on a freeway. I heard a noise come from my engine, it sound like metal being grind. My vehicle then shut off I lost power steering causing me to run into a ditch. When I finally came to a stop I noticed the vehicle will not re start. I called a tow truck. When the truck moved my car I noticed a lot of engine oil under the car. I had the truck towed to a BMW mechanic. The mechanic told me " one of your rod bearings broke sending a rod through your oil pan". And I have tiny pieces of metal all inside of my engine. He also told me that I will need a new engine.