I nearly barfed the first time I saw a new 7-series on the road. I am very fond of BMWs, but I fear that the last "Ultimate Driving Machines" were built as E28/E34s, E32/E38s and E30s. I am not a big fan of E36s, although I've driven a few and they're great cars.
BMWs used to be considered among the top, serious sporting sedans & coupes on the roads, and used to be purchased by people who bought them for their driving experience, build quality and sporting appeal. Nowadays, the cars are marketed at the latte-sippin', Haiku-writing, image-aspiring crowd who want to be seen in something hip. I think with E36, the company started selling "the badge" instead of the car.
That said, I also like 70s/80s Benzes more than the 90s versions, so there's probably something wrong with me...