Its top notch, but if you are in the market for a new car, why not just buy the newer associated car and get the TC4? The setups are coming around and the car is proving to be faster. I just got mine and like it more than the TC3. Now dont get me wrong the TC3 is a great car and will be for some time, if you are looking to get one used the TC3 would be a great choice considering they are on ebay,forums, etc. like crazy. The HPI Pro4 and the Tamiya 415 are also both really good cars. The XRAY cars are nice. All of these are nice. Just check on your LHS parts availability and your budget when you go to make your decision.
The TC3 is a very fast car that doesnt require a lot to make it fast. A lot of people made a lot of mods to them but for club level STOCK racing its a solid car. I liked mine a lot and still do. Good luck and whatever you decide, remember to have fun and go race!