I went out in the rain on the Potenza Sports last night. All good! It was raining pretty hard for my area (not like tropical heavy rain tho). I drove through some pretty wet sections, and gave it some juice here and there, no hydroplaning or traction issues. I pushed a little hard around one ramp with room for recovery, with 50/50 handling balance and 0 stability control, and everything felt good. I got a hint of slip and then backed off slightly, no issues with big sudden sliding or anything like that.
So my verdict is these tires are perfectly good in the rain. Again I don't go nuts in the rain these days, I can't tell you if my tires have the ultimate wet grip / wet lap times, I just care that they handle wet roads with good grip and traction and no bad behaviors. These definitely meet that bar.
I'm also going to say these Potenza Sports are better in every way (in dry and wet) than the old S-04 Pole Positions that I used in 245/45R19 for a bit on my S P85 years ago. A lot better in fact. Granted different car, years ago, so not a super direct comparison, but I was never really that impressed with the S-04, they were smooth and quiet but I remember feeling just a little disappointed in their grip and dynamics. Well I'm liking these Potenza Sports much much more!
(The S-04 may have been a little quieter and smoother, but it's hard to compare because the S air suspension is much smoother and that car filters out road noise a bit better. In terms of handling and grip I'm very certain these Potenza Sports are a big, big step up from the S-04.)
Originally the S had 245/35R21 Michelin somethings - PS2 or PSS I think. (Definitely the PS4S didn't exist yet.) The 21" S cast wheels and resulting rubberband tire size was just as bad as the 20" M3P setup, but those Michelins were very good summer tires for street use. (I never tracked the S of course.) When I swapped for 19" S wheels and went to the S-04 in 245/45R19, because the Michelins weren't made in that size, it was a bit of a downgrade in grip and feel. (Big improvement in ride quality though!) That's why I was worried about doing the same 2" downsizing on the M3P. Not a problem with these Potenza Sports! They're very sharp and fun even with 245/45 sidewalls. Really awesome tires at least for street use.
Now compared to the Bridgestone RE-11 I ran ~ 10 years ago on my STI for street+track...that's probably not a fair comparison.
Damn those were fine tires. Loved those tires. Amazing tires for street and track days. Very sad Bridgestone isn't making a tire like that anymore. Did I mention they were great tires? They gripped and gripped and gripped, with great feel and feedback, and they were amazingly consistent across temperature ranges (above freezing of course), from cold street use to hot track laps. They weren't quiet tires of course, but they weren't that loud either for a street/track dual use tire, perfectly street friendly for someone more into performance driving than luxury cruising. I didn't use them in the rain much but had no issues when I did.
Going even further back, the Dunlop summer tires that STI came with were hot garbage, for sure these Potenza Sports are better than those old Dunlops. Grip on those Dunlops wasn't bad, but they were awful loud on the street, and got greasy & overheated too easily on the track. Kind of the worst of both worlds. The RE-11 were better in every single way and every single situation. Most likely these Potenza Sports are too (though they're not really meant for track use of course).
Continuing on back, I ran some Goodyear summer tires, I think the F1 asymmetric, on an older Subaru that were perfectly good, but were a class down from tires like the Potenza Sport, PS4S/PSS/PS2, Conti ECS, etc - or two classes down from the RE-11. Those Goodyears were good, and very street-friendly in terms of noise & comfort & wear. They suited the car I was using them on well (less sporty than STI or M3P), probably tires in that class would suit a Model S well too, but on the M3P I'm definitely sticking with more aggressive "max performance" tires, or maybe I'll try some "extreme performance" tires on the M3P someday (the RE-11 tire class).
I hope these comparisons help. I've been running all-seasons on the S P85 in recent years so I don't have as many fresh comparisons to make as I'd like. (Wife and I got rid of our ICE cars when we got our S.) I bet the Michelin PS4S are awesome too, in fact I was going to get them for the M3P but they were on back order everywhere with no real ETA when my wheels arrived. So I glanced through the latest tire comparisons, saw good things about the Potenza Sports, and now I'm super happy I ended up with them.