A good friend of mine got a 94 740i around the time I got my 91 300SE. I thought the 740i had a better all around feel - handling matched the stiff suspension where the the 300SE had an odd combination of stiffness and too much roll. The BMW's sea of identical switches on the black expanse of center console was confusing but the stereo controls made sense. The pigskin texture leather didn't do much for me and the stiffness of the BMW seats made me wonder if orthopedics is all that important.
Another friend has a 97 740. I don't think much changed between the second gen and third gen 7-series. I can't think of what the 97 740 offers that I prefer to what the S420 offers. Mind you I don't care about 0-60 times and skidpad g's. Rolling living room wins it for me.