I like the refresh. Very tastefully done. Should continue to do its job, attracting a younger, more sporting buyer to the Lexus brand.
That said the strengths of the Lexus two-car approach in the entry-level luxury class underline a weakness of the approach as well.
Lexus, for some reason, has not bothered to create an M3 competitor in this generation. And the new C-Class has raised the bar for interior luxury, making this interior seem cut-rate, in comparison. This is a fine sports sedan next to the 340i, but it is clearly a step down to a C450 AMG, which is $50-60k, or the M3/S63. Lexus needs to get the next IS, in 2018, to that level. The next 3-series will lose weight, and hopefully this IS will too, as one of the heaviest cars in this class.
In luxury, power and weight/efficiency, the IS has been left behind by the C-Class and 3-series. This may explain the drop in sales for the IS, even after the new engines came out last fall. Hopefully, lexus is paying attention to the competition, and is working on a strong follow-up to this solid sports sedan.
BD