Probably the E30.
The M30 is a pretty easy swap, motors are cheap. Only real negative is that you can only keep A/C or PS, one or the other due to space. If building a purely fun car, not a big deal.
The M5x/S5x motors are well documented swaps, and are completely plug and play. All the work has been done for you, and if you aren't crafty with wiring, you can even buy the harness adapter that connects the engine harness to the chassis harness.
You even have a bunch of options on trans/flywheels/diffs.
A good running, and well tuned (good intake, exhaust, chip) OBD-I S52 will be in the 225-235whp range. Mine put down 233whp on a weak headgasket. Cams/injectors/tune can put the S52 up around 255whp. In an E30, it's nuts.
The LS1 swap has been well documented for one build, and you can buy a CD giving you a parts and fabrication list for everything you need. INcluding keeping the factory brake boost setup and A/C.
There have been numerous other swaps as well, 5.0; BMW V8s, BMW V10s, BMW V-12s.
You can bolt in an E36 steering rack for a quicker ratio. You can swap E36 parts on to the suspension for 5 lug and easier to find offsets/wheels. If you're a baller you can buy E30 M3 stuff (but its outrageously pricey).
If you want BMW big brakes, you can use E36 M3 up front and M COupe roadster trailing arms out back.
Cheap, robust, blast to drive.
But that's just this mans opinion.