The 2008 Lexus IS F is ready to enter the market competing directly with the 2008 BMW M3 and the Mercedes-Benz C63 AMG. The Lexus is equipped with a 5.0L V8 producing 416 horsepower and 371 lb.-ft. of torque at 5,200 rpm, with which you could reach 60 mph in 4.6 seconds.
The transmission is an 8-speed auto with lighting quick 0.1 second shifts, and apparently Lexus has tuned its suspension on the german Nurburgring and on Fuji Speedway in Japan.
In compare, the 2008 BMW M3 is powered by a 414-hp 4.0L V8 while the Mercedes-Benz C63 AMG by a 507-hp 6.3L V8. While we don't know the pricing on the M3 and C63, we do know that the Lexus IS F will start at $56,000 about $10k cheaper than the 2007 Audi RS4, 420-hp 4.2L V8, priced at $66,900.
My guess is that at the Detroit Show, BMW will release the pricing for their new M3 and then we can make at least a comparison based on the value.
Lexus IS F Gallery