although i bought my porsche for more reasons than the power (i also own an S), i COMPLETELY agree with you. The S (3.2) motor should be the base and the 3.6 should be the S. I also agree that porsche would much rather us all buy a carerra than a 3.6 boxster -- which is why that very thing hasn't and probably won't happen.
But, although i would love more power in my porsche S, that alone will not make me swing toward any of the other makes. I too have heard the Porsche with Panties comment -- although not to me directly. But lets face it, the M roadster has balls, but the 2.3's -2.8's are pathetic. The M Roadster styling just looks retarded....i liken it to a huge muscle-head guy that is 5' 2" tall. Squatty with crap buldging all over the place. The S 2000 looks like a toy, BMW is going through an identity crisis with all their cars, the Z4 being no exception. The vette, as you said it best = old man/guido.
in this case, for me, there really is no substitute.