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I own two E46 M3s - one street, one track-only. The street one is single-owner, intensively maintained since purchase and had a VANOS failure (bolts backed out, threads damaged) at ~90K miles. The track car is 4th owner, prior owner claimed bulletproofing. I had it fully bulletproofed in Spring 2022 by the #1 guy because I like that peace of mind given I track up to 7 hours away. VANOS failures on the E46 M3 are reality.

You can do nothing and wait, or just get ahead of the known problems and have it bulletproofed with better than OE parts. Opinion: If you are waiting for something, know what specifically it is you're waiting for.
 
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