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It will be competatively priced with the M3, C63 and S4. Pricing has not been finalized yet as Lexus is still doing the research to properly price this vehicle.
This car was meant to compete with the M3 not the 335i. The IS350 is the direct competitor to the 335i. The 335i and the 328i are the replacement for the former 330i and 325i respectively.True, but you can get a loaded bmw 338 in the mid 40's, and I've seen 335i's in the higher $48's. I don't think lexus would price this car $5-$10k over the 335i.