OK, just in case you missed the news (and despite earlier media reports that it would), Audi did not drop the 4.2-litre V8 from the 2012 S5 Coupe in favour of the 333-horsepower supercharged 3.0-litre V6. That is not going to happen until the refreshed 2013 model comes out.

In a hurry to pick up the car, I had failed to see the discreet V8 emblem on its flanks and was expecting to hear the supercharged six fire up. The second I hit the push-button start, however, the distinctive bark from the dual exhausts instantly alerted me to the news. And, not to dismiss the blown V6 — I had sampled its goodness in the S5 Cabriolet earlier this year — the rich sound and immediate thrust courtesy of the V8′s 354 horses is what defines the Coupe’s reputation as a pre-eminent sport coupe.

Naturally, there are downsides, the foremost of which is the fuel economy penalty — Audi’s engineers have indicated a 20% improvement in fuel consumption will be realized with the supercharged V6. As it was, the 13.6 litres per 100 kilometres of premium unleaded I averaged during my week with the tester was a fiscal reminder that one pays for one’s performance pleasure.

In everyday usage, the S5 displays formidable grip. Naturally, much of this comes down to the quattro all-wheel-drive system and its self-locking centre differential. Under typical driving conditions, it distributes a majority of the engine’s power to the rear for a sportier feel — 40% to the front axle and 60% to the back. In the event the wheels at one end start to slip, the differential transfers a majority of the power to the other axle.

However, grip and handling performance were ramped up in the S5 tester with the addition of the $4,000 Audi Drive Select with quattro sport differential. The sport differential varies the power between the rear wheels as needed and depending on the driving conditions. Ultimately, it improves traction and helps prevent understeer when cornering at higher speeds.

Meanwhile, Audi Drive Select offers up to 27 distinct driving configurations, which provide a balance between performance and comfort driving. It manages the adaptive suspension, steering feel, transmission shift points and throttle response to the driver’s choice of Automatic, Dynamic, Comfort or Individual settings. Automatic is the default mode and it seems to offer the best balance between comfort and performance. Pushing the dash-mounted button for Dynamic noticeably sharpens the S5′s demeanour — you can actually feel the car tense, like a tiger ready to spring. It’s a little extreme for rush-hour traffic, although the throttle blip on downshifts is music to the ears.