I have compared these vehicles so much, that - for most people, it would drive them insane... I have finally made up my mind and I am getting the 350.
The TL Type S is nice, but 0-60 isn't close to the 350, does not have SmartAccess system (which is more important than you think, most REALLY like it), Xenon AFS system (steerable/auto-leveling lights - pretty awesome safety feature), nor does it have Ventilated Seats. Insurance was cheaper for the 350 than the Type S was for me, too. Also, the Total Cost to Own by Edmunds is less for the 350 compared to the TL (which doesn't even include the Type S, bigger engine, bigger brakes; overall higher cost to maintain). The front end is, at least for me, sexier on the TL, but I mean look at the 350 - it is overall more amazing to me - in every aspect - including exterior and interior.
Just my two cents worth though...