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I would say the TL first, G35 second. TL b/c it more closely matches the interior quality. You can also get a stripped down 325i for less money, but it won't have a lot of the features of the IS. The good thing about the 325i is that you won't pay a cent for maintenance for the first four years.
Although I agree that the TL's interior features match the Lexus, the interior quality on the TL doesn't even come close to it. Too many rattles, trim is easy to scratch, leather wears out quickly. My uncle owns one and he told me that he's frequently reminded that he only paid $35k for it. Honda's nav system, however, is second to none. GREAT system.
If I had to pick a car that's comparable, I'd guess the C-Class or the A4.
Agree on the TL, I had a 05 and the quality of the materials is very, very poor. It looks ok when new, but ages very fast. My seats looked terrible and my dash was turning grey after only 6mo/12k miles.
I don't think the nav is "all that" either. I now have a 03 GS with nav, and I actually like it as much as the TL. The directions are given in a better manner and there are touches like two quick beeps at the exact turning point. You can also adjust default speeds to suit your driving style.
The new IS nav is a step above my GS and I would imagine it could actually be a lot better than the TL
You guys are right, I should have specified features rather than quality.
If you're considering the Volvo S60, look at the used ones. They depreciate a lot and you can get a fully loaded S60R with less than 10k miles for the mid 30s. A friend of mine has one and it's a pretty sweet ride.