Warning: long post alert!
The front axel of the E46 and 85/85 is essentially the same and similar to E36. I don’t know what different there is with the geometry of the M/non-M cars, but I went with the ‘non-m’ bracket and it was a direct bolt-on
I didn’t bother changing the shield as it’s pretty much the same size as the disc and I didn’t want to wait weeks waiting for them to arrive, and I spliced the Porsche brake pad sensor wire into the bmw sensor wire.
The only other thing needed are brake pipes with a 90 degree connector. Creation also do that but I thought theirs was a bit pricy for what it is. Take the time and update both front and rear to stainless and you’ll get the most out of the upgrade. I went with the CM front and had a spare set of Goodridge rear hoses for E36 that I was able to fit to the Z.
I originally planned to do the install on my old non-m E36 convertible, but would’ve needed to go with the 325 discs and shave the rotor to make them fit.... couldn’t find anywhere to shave the rotor so I delayed the install. Glad I did wait as the situation changed and I ended up swapping the E36 for the E85, at which point I got my 345 rotors
I got mine from BMW Direct on eBay, but there are plenty of other sellers selling the same item.
You should be able to fit the 345 kit under 18” wheels, so no need to worry about fitment. Cost-wise I’d imagine by the time you paid to shave the callipers for fit 325 discs, the price difference between 325 and 345 is very small. I also figured I’d always be questioning “what if I got the 345s” if I went with the 325s. Not very scientific reasoning I know, but I’m glad I made the choice I did.
Oh, and it’s probably worth adding into the discussion that I’m just running the standard 3.0 vented discs on the rear. Some people said it changes the brake bias a lot, but others say any difference is negligible.
I was prepared to change the master cylinder to the M3 version, but once the brakes bedded in I found the pedal feel was good. Absolutely shockingly bad pedal feel while bedding in though.
I’m also running EBC pads - I can’t remember if they’re red or yellow, but they stop really well with a strong bite that can be felt in the pedal. The biggest issue I have with them is they’re really dusty
I hope all this helps you plan out the brake upgrade and prepare for install.