I suppose it’s a useless argument since “fun” is very subjective. I equate fun with drama and feeling… and speed/performance are byproducts. An M340i will run laps around an mx-5, but I would argue the mx-5 is more fun because of the driving characteristics. The LC500 has a different variable in the drama and theater involved with the naturally aspirated V8.
The M850 vs LC500 is an interesting discussion. By most accounts, the M850 is the much better car in pretty much every aspect. But the LC500 still produces more emotion and in my opinion is more “fun”. I’m not sure I’d take it over the M850, but it would be a very tough decision for me.
As for the steering feel - There are plenty of cars which offer better steering feel than BMW’s current EPS offerings (excluding exceptions such as the M2). In fact I’d say BMW is close to the bottom when it comes to steering feel - which may be hard to stomach because for the longest time they were at the top with the hydraulic options of old. This is not to be confused with handling ability. BMW’s handle great, but steering feel has been lost (again another example of performance at the expense of “fun”).