Don't forget that the M3 has a good weight balance, while the RS4 has a V8 hanging over the front wheels. The front tyres have to work a lot harder. No amount of suspension tuning can get the weight off the front. They can only compensate.
Audi has been able to eliminate the understeer, and it has done that by leveling out the grip balance. Not by making the front tyres grip more, but by making the rear tryes grip less. This pulls the car straight in the corners, but comes at a price. You're not using the full potential of the tyres.
Another way to compensate would be aerodynamics, or extra weight on the rear. That giant air scoop on the front of Audi S1 rally cars was there to push the front into the ground, but it wouldn't be practical for the RS4. And you pay the price in aerodynamic drag.
Extra weight on the rear, also, isn't something the RS4 needs. You would pay the price in acceleration.
Untill the B8 platform gets here, the Audis will always be disadvantaged by their weight balance. It's not something you can work around. Every attempt to compensate will have a negative effect on something else.
With the weight balance, the overall weight, and the tyres, the time of the CSL is easily explained.