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I've owned both... I recently had a 2015 GTR FBO (Intakes, upgraded fuel pumps, injectors, catless downpipes, midpipe, port matched upper and lower intake manifold) running e85 with flex fuel tuning - tuned by a very reputable tuner. You can see my current mods for the F10 M5 in my signature.
I can verify that the GTR will stomp the M5 in the quarter mile and from a stop or very low speed roll at my current mod level. In addition to running a faster time, the GTR will also trap a higher speed in the quarter due to being able to put down nearly all the power immediately and ALL THE WAY down the track.
That all said, 100-150mph times or higher rolls and speeds the M5 is faster. Like it or not, it is what it is. I've owned both. I've measured both. Both cars are awesome cars but they have their own strengths and weaknesses. For all around performance the GTR wins. For practicality and a serious highway car the M5 is the winner. I will also say that the M5 is sloppy in handling when you compare it directly to the GTR. You really can't even compare in this department when pushed to the limit GTR is faster around a track.
Disclourse: This is my personal experience for a basic FBO GTR running e85 and a Bolt-on M5 with a few gallons of E85 mixed with 93 and a clutch upgrade. There are also exceptions and we aren't talking about really built up M5s or GTRs. Really built up GTRs... NOTHING else can really touch them.
As others have stated, the GTR isn't really a direct competitor to the M5.
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