I've had both.
Another small difference is stock wheels on the 95 are square setup vs 96+ is staggered.
My 95 e36m3
My 99 e36m3
Stock for stock, the 95 e36m3 handles a bit better, but I personally liked the 99 m3, because it has a bit more low end torque & with some suspension tweeks, it'll have the best of both worlds.