I didn't like it at first either. I think that with the exception of the 1st generation ES300, they have all looked too much like the Camry, especially the 97-01. I think that as a luxury brand, Lexus should have it's own look, even if it borrows from Toyota.
I recently saw a new ES300 parked right next to a new Camry, and they are definitely different. The ES seems larger and much more refined in its styling. (I really like the Black version).
I had the pleasure of driving one ('03) recently as a loaner and I was VERY impressed w/ the interior. This is by far the nicest interior Lexus has put in the ES to date. I thought the engine was slightly underpowered for the weight of the car, but that may change if they put the 330 engine in there. Overall, it is a very nice ride.
Call me a convert, but I like it.