There is no doubt in my mind that all Teslas could go much faster than they can now. This has been confirmed to me by someone who has first-hand information.
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is all up for discussion, but speaking personally I would consider it a very big letdown if the M3 was restricted in some way so it couldn't accelerate at least as quickly as the current fastest MS.
It is likely that Tesla limits the discharge c-rate based on two major factors... reliability of the fuse and interconnects and the long term lifecycle characteristics of the battery. While it is possible to decrease the buffer in those parameters to increase performance, there would be consequences. The Model 3's battery chemistry likely includes more silicon in the anode, which has had lifecycle issues in the lab. Therefore, I would assume they stay relatively conservative with similar discharge c-rates. As a result, the c-rate is likely the limiting factor in performance.