At my dealer things seem different, he has more Turbo than S orders. BTW: I'm not sure the S is the better deal after reading a comparison test with the VW Touareg V10 Diesel and the BMW X5 4.6is. From 0-100 kph, the VW Touareg Diesel was slightly faster(!) than the Cayenne S. Oouch.
So if I'd live in Germany, I'd probably go for the VW Touareg Diesel if I want to save money or I'd buy the Cayenne Turbo. The Cayenne S doesn't make much sense then.
Another thing: the ML 55 AMG accelerates from 0-100 kph almost one second faster than the Cayenne S (tested by german AUTO ZEITUNG with 7.7 seconds - ML 55 with 6.8 and 6.9 seconds). The Cayenne Turbo is definetely
the Cayenne to go with and ML 55 or BMW X5 4.6is owners shouldn't really think about an "upgrade" to the Cayenne S. It is
not.
A little note regarding fuel consumption (which is VERY important to european drivers):
the VW Touareg V10 Diesel which is also slightly fast than the Cayenne S from 0-100 kph has a fuel consumption (Diesel!) of 12.7 litres / 100 km. The Cayenne S has a fuel consumption (98 octane fuel) of 18.5 litres / 100 km. Ouch again.
So the VW Touareg is definetely the better buy for european buyers in my opinion. Quality should be the same.
On-street performance (handling!) is slightly better on the Cayenne S as the test in AUTO ZEITUNG showed. Top speed is higher too on the Cayenne S (242 kph vs. 225 kph for the Touareg) but is it really that important on a SUV? I don't know.
What AUTO ZEITUNG criticizes on the Cayenne S: build quality (interior). They state that the Touareg's interior seems to be of a higher quality.
I can confirm that. The Cayenne's interior quality looks better than anything I saw on a Porsche up til now but the Touareg easily tops it.
I'm really not sure if the Cayenne S is the better buy.