The following is from the "FAQ Section of IS300.net" as created by TEG:
Will there be a coupe, wagon or convertible?
There are no announced plans for any of these. It seems like an obvious question since the IS300 looks like a BMW and BMW tends to do sedan->coupe->wagon->convertible with their models. Busybeetoys.com has put up "mock up/fake" renderings of the IS300 in different flavors, but nothing is confirmed. The strongest rumors are for a wagon version someday.
I know for sure that a wagon version of the IS300 will come out for year 2002 models. I have also heard from a good friend of mine who is management of lexus dealership here in NC that more options will be included, such including arm rest, all windows up and down, remote car start, etc. However, GPS is not going to be an option since it is difficult to convert into the IS300 here in the US from Japan. This is what I've heard, about 95% sure that it will happen for year 2002 models of IS300s. Also, price will increase along with those options.
In this month's motor trend/ car and driver/ I forgot which one... it said that next year will bring a SIX speed manual...typo maybe? And I heard that the designer of the Altezza intended it to be a sedan, and designed it with sedan in mind... I don't think a coupe would make him happy...