As a general rule wet weather drastically reduces the speed of high performance cars. So, naturally, when I washed up at BMW UK’s Bracknell HQ it was pouring with rain with more forecast.

Not the ideal situation to check out the more “relaxed” stability controls which let you slide this 500bhp car around before stepping in to rescue you.

The Competition Pack makes the M6 a stronger competitor to the Audi R8 V10 and less expensive Jaguar XFR.

The subtle changes to the BMW M6 Competition Pack include wheels half an inch wider, and a switch from Continental rubber to Pirelli Corsa tyres.

The more fluted bonnet is part of the Edition Sport mid-life changes (the car came out in 2005) too, and it now sits on uprated suspension 12mm at the front and 10mm lower at the rear.

The M6 is a bigger car than the R8 and comes with two additional seats and a big boot, so you would think it would have broader appeal. However, used value specialists CAP Monitor predict the Audi will be worth 40 per cent of its price new after three years compared to just 27 per cent for the BMW.

Sitting in it for the first time the M6 feels like an F1 car, with buttons to adjust the ADC suspension dampers (comfort being best suited to British roads), throttle response, gear change speed and stability settings.

And then, of course, is the important Power button which liberates the full 501bhp from this epic engine instead of a “mere” 400bhp. I wonder if anyone has ever had the patience to see if you actually do save fuel in the lower setting?

Unfortunately where the M6 Coupe really impresses is at speeds reserved for the track or a non-congested and unrestricted section of German autobahn.

Even the mighty Porsche 911 Turbo starts to weaken over 130mph as this normally aspirated V10 keeps catapulting you and three friends forwards.

But the Porsche has much the better brakes…

Likes a drink

With the power of eight average superminis it’s no surprise the engine can empty a tank of super-unleaded in less than 200 miles, if you give it a chance.

A dashboard read-out showing 10-16mpg when only keeping up with traffic is sobering.

For a 1,785kg car, the M6 Competition Pack is certainly willing enough to lunge into a corner.

And on the very firm ‘Sport’ damper setting, you get plenty of feedback on what the car is doing and the surface under its wheels. Sometimes too much, and it doesn’t flow as smoothly as a Lotus or an R8.

Seven-speed gearbox

Despite the change of tyres the steering remains light and rather anaesthetised, requiring you to rev yourself up, so to speak, to push the M6 hard enough to enjoy its dynamic qualities.

Its seven-speed SMG gearbox is very good – much quicker and sharper than the six-speed paddle change in the Audi R8 – and in heavy traffic it makes life easier than a manual gearbox.

It’s all sequential

But, choose to use the sequential gear selector lever instead of the steering wheel mounted paddles, and you’ll find it’s wrought from cheap plastic - unlike the lovely little chrome device in the previous generation M3.

On a positive note - unlike the Audi - it works intuitively in the same direction as race and rally cars – you pull backwards to go up the gears and push forward to go down.

If you’re a petrolhead you can’t fail but to love the M6. With up to 501bhp on tap it will easily satisfy all your performance needs.

Check out this New Car Net video of the BMW M6 Convertible: