Considering the state of the economy, some might question the market viability of upscale sedans right now. I keep reading about how fancy-schmancy white-tablecloth restaurants are begging for customers.

Seems like high-priced goods are taking a beating, and austerity, aka spartaneity, is “in.” However, these cars might just be the ticket for mid-winter automotive doldrums: they’re nicer than mainstream sedans but not as flashy as the ultra-luxury cruisers. They also don’t cost as much as a small house.

Here are our Picks from the February issue upscale sedan test group:

Tom Mutchler: You know the expression “The bigger they are, the harder they fall”? Well, that applies to vehicle depreciation, and it can really help if you’re shopping for an upscale or luxury sedan.

No doubt, the Hyundai Genesis is extremely impressive for its $36,000 price tag. Lots of room, plenty of power, well finished interior. But I don’t find it fun to drive at all. On the other hand, the Infiniti G37 is a blast, but the interior is a bit on the small side. Can a car give me the best of both worlds? Sure.

I’d buy a slightly used Infiniti M35x, a top-rated luxury sedan. I’ve put a lot of miles on our various M test cars and enjoyed every one of them. There’s plenty of room in the rear seat for in-laws, the electronics are simple to use, and the car drives like a slightly larger G35 – makes sense, because that’s basically what it is. It’s not as quiet and comfy-riding as a Mercedes-Benz E-Class, but reliability has been a whole lot better.

A new Infiniti M35x is $52,000 with navigation, although we’ve seen massive discounts on leftover 2008s recently. But I wouldn’t buy new. I can find a 2006 M35x for $26,500 (asking price) with around 30k on the odometer, including a certified warranty, from the local Infiniti dealer. That’s a lot of car for less than the MSRP of the last Ford Taurus or Honda Accord V6 we tested.

Gabe Shenhar: While the Hyundai Genesis scores big-time points in our tests, for me, there’s still something missing. A car of this size and intent needs to ride better. Yes, in the grand scheme of things, the Genesis rides well enough, but the short, quick pitches on some surfaces are testament to why it is bargain priced.

Among the rest of the sedans we recently tested, there are two that I like driving and would enjoy all day. One is the Pontiac G8. The other car I like is the much pricier Jaguar XF. The new Jag certainly has its share of flaws and some unnecessary gimmicks but it imparts a sense of occasion when you drive it. The XF rides beautifully, is quiet, moves out well and its V8 sounds great. I’m really not someone who would get hung up on the fact that some V6s are more powerful. For me, it’s the feel and the enjoyment that makes or breaks a car. Complementing that is sharp and communicative steering and great body control. This all makes the car a delight when carving through the twisty bits.

Now back to the Pontiac G8: Given that it drives as well as it does, and priced the way it is, perhaps, the best thing to do is to wait for the discounts to get bigger and put a Holden badge on the car. (Watch our tire-squealing Pontiac G8 video.)

See the full upscale sedan road test and videos.