I used to think the same thing. I had two E53s and hated the E70. Drive it, not just a test drive. Buy one. It impresses me more and more each day. The handling and power BLOWS away the E53. Hands down. No contest.
For those of you that don't know, I'm comparing a 4.4i (2001 and 2005) to a 2008 4.8.
The looks grew on me too. I think the same word reflects the difference in both the styling and performance...refined.
I will give the 2001 a +1 for the off the line pick up. Nothing beat it. I do better in sport mode now but the 2001 was incredible.