Agreed, the 2011s look much nicer than the outgoing model. I would steer clear of the V6. In a big vehicle such as the Cayenne, you want lots of low down power. The 280hp Touareg V6, on which I believe the Cayenne's 6 is based, feels pretty gutless in the Touareg.
Gas mileage is still pretty awful, too (I saw an average of about 16l / 100km in the V6 Touareg, and could never understand who would pick it over the 400+lb / ft of torque in my diesel, which averaged about 11l / 100 km).
If anyone is getting a vehicle like a Cayenne in a market where no diesel is available, I'd say suck it up and go with the V8.
I spent about a week with an old-model Cayenne GTS with the manual transmission, and two weeks with a virtually identically spec'd GTS with the auto. I have to say, the manual just did not suit the car at all. It had a very balky, imprecise action, and it just felt like a whole lot of effort for not much reward.
I was all for the idea of a car like this with a manual transmission, but after experiencing it, I'd pick the auto any day of the week.
I've never driven any variation of the Cayenne but that would have been my gut instinct as well - that is, a manual in the GTS would seem very cool in theory, but perhaps not so great in practice.
I'm in Europe now, and I have seen a handful of 2011 Cayenne's here - they do look much nicer than the older versions. I would happily have one in black with a V8, though i wonder how well the V6 performs and if the trade-off of performance/gas mileage is worth it.