The E60 M5 does not have active steering (thank goodness).
Lexus is coming out with an 8-speed tranny later this year.
The E60 is supposed to be coming with an optional "normal" manual tranny soon.
The E60 does not suck, but I agree that other than the extra HP (interesting to note that torque and displacement are roughly equal to the E39), the car is a step down from the E39.