My second LS400 (first was a Mk 1). Mk3 is even quieter, a good bit faster, more economical and even more reliable. Points which stand out are superb engine, climate control, stereo (which seems to have more oomph than many a car in its own right) and build. Handling on this version has been sharpened a fair bit - mostly it is for the better although it has lost some of the Mk 1's "waft-ability". Generally a better driver car though.
May not have quite the style of the opposition but it is less common on the road than Mercs/Jags etc. When you throw in faultless build, Corolla cost servicing, low depreciation and excellent fuel consumption it is very difficult to pick any holes in the car as an overall package.