Having driven most of the 3 series body styles that have come out in the last 10 or so years and comparing them with my 996, my subjective opinion is that the Porsche is quite a bit better. The pinnicle of the 3 series in terms of steering feel is probably the E36 with the E30 close behind (some feel the E30 is the best of the series but that is a discussion in it of itself). Subsequent generations have declined in steering feel and provide too much of a boosted feeling.

The 911, provides much of what the E36 M3 had with steering feel, with more sensitivity and feedback than the E36. The 996 is much sharper in feel and feedback. In this sense, it provides you with much more information of what the car is doing and when it will let go. The E36 can mask this a bit. Only after you modify the E36 quite a bit do you get the same sort of feedback.

 

You guys clearly aren't comparing the 996 to an early E36 M3. My old '95 M3 had the worst steering feel ever. Horribly vague and with a huge wheel and slow steering box. That's what I hated most about that car.

My E46 M3 is better...but still not quite like the feel you get form the 996.

 

I had an early '01 330CiC and actually got BMW NA to foot the bill to update the steering to the "post - '01" steering under warranty. I've owned BMW's for many years - and was very disappointed with the move from my '97 328is to the 330 - the 328 felt alive at least - the 330 felt completely dead, lifeless, numb... It felt marginally better after the upgrade (they replaced the entire steering rack). It still wasn't as raw as my 328...

The 996 steering is in a different league - comparatively:
1) The 996's ratio is much quicker compared to the 330 - feels much more sporting. The M3 is a solid improvement over the stock 3 in any incarnation (e36/e46/e90).
2) While the 996 may feel "light," you get plenty of feel transferred from the tires to the wheel communicating grip, etc. What you need when driving at speed, near limits, is a steering wheel that communicates grip, or lack of grip - and let's you know how to keep control of the car... I just love the steering on the 996 - it's light enough to keep me from feeling like I'm muscling the wheel, yet it still 'talks' to me...
3) I think Phil is right about the lack of road feel when that stupid ignition lock is engaged...

 

I have an '06 330I and much prefer it's feel to the 335i. The 335i felt horrible to me as it seemed hard to steer. Prefer the 330i over the Porsche as well.

 

I have an E46 3-Coupe with a sport pack and a 996 C4S. Porsche steering feel is way more communicative than BMW's.

 

My Honda has great steering feel and it takes only 9 complete rotations of the steering wheel to make a 90 degree turn.

 

MY 86 911 has the best feel of them all, No wimpy Power steering!

 

Ugh....I hate my '87's steering feel.......my arm almost dies to make a turn.

I loved the way the 996's feel. Matter of fact, the slightly boosted steering was the first thing I missed moving to the '87.

I know autocrossing is out of the question in the '87, my arms could not take that......

With that said, I have driven all the E46 line-up and about 4 M's and I can say I like the 996's feel over the Bimmer.

But, I do agree, about the very slow speed quickness of the E46's, its pretty good.

 

WIMP!!! My wife 105lb wife can autox it!

I have AutoXs the 86 so many times as well as track time.

 

Currently in the garage sorted best to worse by steering feel:

Yamaha 125 TTR pit bike
997 Cup
Cayman S (GF's)
996 cab (pss9)
84 911 euro cab (GF's)
650CI (new (to me) toy. I love this car)
Formula 330SS (steers like a boat but better than the Jag)
Chevy Silverado with Max Tow
XJ8 (GF's)

 

I know, I know, I used to be able to bench press 315......what happened to me?!?!

 

So at your age, a 3 point turn takes you what, like 10 minutes in that white beauty?

 

Three-point turn, hell!! Just crank the wheel hard either way (all 9 revolutions) and gun it! The car pops up on the curb, across the sidewalk, onto the lawn, back across the sidewalk, and jumps off the curb. Then I am on my way!

I learned this routine watching the Golden 80's Show on the Florida Blue Hair channel!

 

I just did a track day with my brother. His 01 330 coupe with the sport option and my stock 996. The 330 was really easy to drive fast and is a really good car, but better steering feel than a 996? I'm both biased and much more familar with my car, but in my opinion, at speed the Porsche is better.