here is an excerpt i found on superhonda.org about rumors of a new is3... just thought it would be interestin' to share...
"Well since lexus is toyota's premier badge and they don't have an extreme sports model like BMW M3, lexus is working on what I've heard is called the is360. This is a pre alpha prototype stage vehicle which means it's only in CGI concept form. It's suppose to take styling cues from the is300 but with a more updated beefer look. All that aside its what's under the hood thats breathtaking.
The main competetion in this case is the new M3 with a 3.2 liter inline 6 pumping out 333 hp using VANOS technology (BMW version of VTEC but more advanced) BMW has recieved a great deal of recognition from this vehicle and lexus wants a peice of the pie now that they have nearly the same reputation and name recognition as bmw and mercedez. The angle I believe toyota engineers are working on is twin vvtl-i. This would be the most advanced production engine design to date. Currently toyota has a twin vvti engine which varies intake AND exhaust valve timing throughout the powerband which yeilds 210 hp from a 2 liter engine although they could have done more which is where vvtl-i comes in. Honda was able to get 240 hp from 2 liters because of the extra lift provided by the high speed cam. Toyota was able to get 210 hp without using their high lift cam technology found in vvtl-i engines. So in theory to add high lift cam technology (vvtl-i) to twin vvti would allow for a much higher specific power output. Notice that with vvtl-i the celica gts gets 40hp over its standard vvti sibling the gt and both are 1.8liters which are virtually identical except for the lift portion.
So from an engineering perspective toyota has always seemed to have a slight edge over honda however all the attention shifted away from toyota once the s2000 came out. Toyota has the technology which would allow them to develop an engine more powerful than 120hp/liter but there was never a need or market for them to do so. Thats all changed now as it seems we are begining to emerge into what may be yet another horsepower race : ) Nissan has resorted to using more displacement to introduce more power but I don't believe toyota needs to do that. Think of it this way... their twin vvti 3sge engine makes 210 hp without high lift, in the celica gts the exta lift mechanism adds 40 hp in a smaller engine which would make atleast 250+ hp if the two systems were combined (twin vvti + lift) 125 hp per liter what we're looking at so I wouldn't bet on an increase of displacement for the is360's engine.
This all would confirm what I've been hearing about a 330 hp 310 lbs/ft 3.0 liter engine based off the 2jzge engine in the current is300 models. The edge I think toyota has in this case would be a lighter vehicle using a smaller engine with a little less power than than the M3 but using their ADM (advanced drivetrain mechanics) they would probably put more power to the wheels than the current BMW drivetrains while being lighter overall. This would no doubt put lexus back into the spotlight."

"Well since lexus is toyota's premier badge and they don't have an extreme sports model like BMW M3, lexus is working on what I've heard is called the is360. This is a pre alpha prototype stage vehicle which means it's only in CGI concept form. It's suppose to take styling cues from the is300 but with a more updated beefer look. All that aside its what's under the hood thats breathtaking.
The main competetion in this case is the new M3 with a 3.2 liter inline 6 pumping out 333 hp using VANOS technology (BMW version of VTEC but more advanced) BMW has recieved a great deal of recognition from this vehicle and lexus wants a peice of the pie now that they have nearly the same reputation and name recognition as bmw and mercedez. The angle I believe toyota engineers are working on is twin vvtl-i. This would be the most advanced production engine design to date. Currently toyota has a twin vvti engine which varies intake AND exhaust valve timing throughout the powerband which yeilds 210 hp from a 2 liter engine although they could have done more which is where vvtl-i comes in. Honda was able to get 240 hp from 2 liters because of the extra lift provided by the high speed cam. Toyota was able to get 210 hp without using their high lift cam technology found in vvtl-i engines. So in theory to add high lift cam technology (vvtl-i) to twin vvti would allow for a much higher specific power output. Notice that with vvtl-i the celica gts gets 40hp over its standard vvti sibling the gt and both are 1.8liters which are virtually identical except for the lift portion.
So from an engineering perspective toyota has always seemed to have a slight edge over honda however all the attention shifted away from toyota once the s2000 came out. Toyota has the technology which would allow them to develop an engine more powerful than 120hp/liter but there was never a need or market for them to do so. Thats all changed now as it seems we are begining to emerge into what may be yet another horsepower race : ) Nissan has resorted to using more displacement to introduce more power but I don't believe toyota needs to do that. Think of it this way... their twin vvti 3sge engine makes 210 hp without high lift, in the celica gts the exta lift mechanism adds 40 hp in a smaller engine which would make atleast 250+ hp if the two systems were combined (twin vvti + lift) 125 hp per liter what we're looking at so I wouldn't bet on an increase of displacement for the is360's engine.
This all would confirm what I've been hearing about a 330 hp 310 lbs/ft 3.0 liter engine based off the 2jzge engine in the current is300 models. The edge I think toyota has in this case would be a lighter vehicle using a smaller engine with a little less power than than the M3 but using their ADM (advanced drivetrain mechanics) they would probably put more power to the wheels than the current BMW drivetrains while being lighter overall. This would no doubt put lexus back into the spotlight."