I've had 2001 X5 3.0, 2004 X5 4.4i and now the 2011 X5 Diesel. I really liked the 3.0, it was solid and really trouble free. The 3.0 I6 was the smoothest engine of the bunch.
The 4.4i was a great handling and fast car. The sound of the engine was awesome; I miss it over the chunkier sound of the diesel. I liked the overall exterior size and interior of it as well; just easy to get around in, park, etc.
I like my E70 - but it's a way different car. It's larger, I don't think it handles as nicely as my 4.4i (which I'm attributing to the standard 18" tires on this versus the 19" staggered on my 4.4i). And the electronics are much more advanced which has taken some getting used to; actually frustrated the heck out of me at times.
I too didn't like the E70 when it came out but it's really grown on me since LCI and I like the looks of my car. But there are days I still want for my 2004 4.4i again - just not the repair headaches which is why I sold it.