There's only one engine/transmission combination in the SC430 but it is the magnificent 4.3-litre V8 and five-speed auto from the LS430 saloon. There's mighty, linear pull and instantaneous smooth kickdown into a lower gear as soon as you hit the throttle, giving rapid response.

The SC430 can't match the mix of agility and comfort offered by the Mercedes SL, but revisions in late 2004 have given the Lexus a more settled ride than before. It still thumps into sharp bumps more than it should, but there is more control over broken backroads.

The Lexus V8 and five-speed automatic 'box make for one of the smoothest and quietest production powertrains, and the SC430 also keeps wind noise nicely at bay below the legal limit, even with the roof down. But there is too much tyre noise on any kind of grainy surface, which undermines the Lexus's credentials as a long-distance cruiser.

The SC430 is expensive, but good value because of the level of equipment. However, its rarity isn't enough to keep values as high as prestige rivals'. As a business car it attracts the top-rate tax penalty and its 23.5mpg average fuel consumption and modest tank give a range of less than 300 miles.

Lexus has earned a justified reputation for flawless build quality and utter reliability, and the SC430 - based on the old GS and LS powertrain - does nothing to change that. The cabin materials were said to have been inspired by luxury yachts and look classy, although cheap column stalks disturb the aura.

The only safety kit missing is a curtain airbag on each side - understandable in a car configured to run with the roof stashed in the boot. The company's security provisions are legendary - a Lexus was the first car to score 100% in a What Car? Security Test - and the SC430 is just as well defended.

You set your driving position - seat, mirrors and wheel - electrically, and the car remembers it. The cabin is a haven of wood, leather and classy metals. It's cosy but not cramped, although the high waistline and the curving roofline block rear three-quarter vision. Storage space is good, and there is, of course, good provision for cup holding.

Any car which stows its roof in the boot is going to have packaging flaws. When that roof is metal and needs motors to move it, the flaws are magnified. The rear seats of the SC are largely useless and the space would have been better used as a ledge for extra baggage. Roof up, the boot is still only modest.

Everything comes as standard with the SC430. Along with the metal folding roof, five-speed auto gearbox and wood-and-leather trim, buyers also get a touch-screen multi-function display with satellite navigation, a top drawer hi-fi system and climate control included in the highly impressive list of standard equipment.