The whole "F Sport" series is a new venture for Lexus who has pretty much mastered the personal luxury game. They're always catered to a demographic that holds quality and comfort above all else. While they've not created direct equals to their competition, they've spiced up their offerings whilst retaining a lot of their core values. That said, no, it's not an M3 or a C63 (more appropriate comparison than 335i). But it IS pretty much exactly what you'd expect Lexus to offer with their own spin.
I haven't driven an IS yet, but I did beat up a GS350 F Sport quite a bit last year. It was pretty damn nice and quite a bold leap for typically conservative Lexus.
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