here's what i think.
the equus is a lot of car. however build quality wise i think it's still a notch under lexus, especially when comparing to the new facelift LS, which has fantastic interior design and quality imho.
imho the ls460 also rides smoother and has a more refined ride quality overall. the spot is a plus if you want a slightly tightened ride.
money wise, yes i have to say the equus gives you more car for the money, however everything considered including brand image, prestige level, and presence, i think the LS is still edging out the equus.
if it's a comparison between the equus and the 07-12 LS i think it would have been a much tougher one. but with the new LS interior design, more modern electronics, and the sport setup, i think it's a better car