I put a $500 deposit down on a GTO back in August. Delivery of the cars has been delayed and the one I ordered probably won't be in until mid February. However, before I advance ordered the GTO, I was looking at the BMW 3 series. I actually came real close to getting one in July. Since then, I have gone back and forth on what I want to do since I'm under no obligation to buy the GTO. I'm strongly leaning towards ordering a 330i now, though. It will cost me about $7K more but I think I will be happier in the long run.
It's a tough decision because the GTO really isn't a Pontiac as folks have stated on here. It's a modified Holden Monaro and according to all the folks who have driven them, the handling is more European and of course the drivetrain will allow it to haul ass. Plus, the sound is really sweet and the interior looks much nicer than anything GM has ever produced. I really have to admit though that the exterior styling is kind of bland.
The only drawback to the BMW is that the next gen 3-series sedan will be out soon. So my $40k car will be the old model in about a year and a half. But the looks of the current 3-series are really beautiful. It's a tough decision. I have been struggling with this for the last couple of months.