We have both a 2016 S 60 (with AP1) and Model 3 we got delivered in January. I actually prefer the Model S. It's a lot more comfortable for commuting, the ride is softer, it's a lot quieter. The Model 3, with AP 2.x, is a lot better for autopilot. Loaner cars with AP 2.x are fantastic compared to our 2016 S, much smoother and better at keeping in the lane.
We got a deal on our S two years ago, $9,100 discount due to it being a showroom car. It was used in the mall in NJ but only had 18 miles on it when we picked it up. So the actual cost difference between our 3 and S was about $10,000, plus 1.49% interest rate on the S vs 3.X% on the 3.
The S has less range 208 miles vs 310 miles, but over several road trips before we got the 3, it has never been a problem. I'm actually looking at trading my S in to get the better performance, new MCU and autopilot. Just yesterday a sales person sent me a $16,500 showroom discount on a previous loaner 100D, plus it's still eligible for the federal $7,500 tax credit and any state credits you might be able to get. There are more discounts on the 100D since those are the ones used in the loaner fleet.