Having owned a new Lexus IS, one can only be impressed by what Toyota has achieved with this car. But you're absolutely right that, despite excellent dealer service, superb build quality, and unimpeachable reliability, somehow Lexus still fails to hold a candle to Mercedes-Benz, BMW and Audi. The dynamics are flawed and the brand has no soul.
All that said, there was one aspect of Lexus that was extremely compelling: value. Compared to the Germans, most Lexus models are much cheaper. They come loaded with standard kit. I was rather hoping that the IS-F would offer the same advantage. If it were to be priced around the £42-£45K mark, it would make an extremely convincing case for itself. Selling the IS-F for the same money as a new M3 or C63 just doesn't make sense. It smacks of arrogance bordering on stupidity.
What I'm really saying is that while Lexus knows how to make decent cars, it knows nothing about marketing.