Just for future reference, a quicker way to get answers to common questions (like yours) is to use the search function.
And to answer your questions, yes, its a timing chain, not belt. I don't remember if it every is supposed to be replaced.
You need to replace the entire cooling system on any e36 - m3 or not - radiator, expansion tank, water pump (the entire thing), thermostat, thermostat housing, etc.
Stock an e36 m3 does around a 14 second 1/4 mile. Depending on the driver it may be a bit better or a lot worse
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'99 Eclipse GS-T
5 Speed, 20g Turbo w/16g Compressor Cover, Front-Mount Intercooler, 550cc Injectors, Apexi N-1 3" Cat-Back Exhaust, 3" Downpipe (cat eliminated), Manual Boost Controller, Bored out 1st Gen BOV, GReddy Turbo Timer, Apexi Air Fuel Controller (SAFCII), Auto Meter Boost & Air Fuel Guage, Polyurethane Motor Mounts, ACT 2600 Clutch, Walbro 255hp Fuel Pump, Professional Tune
'92 BMW 318 iS
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