Is there an easier way to get the correct connection as oppossed to going to the ignition coils?

http://forums.bimmerforums.com/forum/showthread.php?t=112949&highlight=dynojet+questions+connector

Most cars have an alternate pickup point, but I'm not sure where that is on the M3.

Above the engine is the wiring support bar that you can open up and connect it. A small razor slice on the plastic cover will reveal the wires you need to tap without messing with bolts or covers.