I’m trying to figure out how to fold down the third-row seat and feeling a bit stupid since I can’t find a lever or handle. Then I see a button along the wall. Naturally I push it, then stare in wonder as the seat stows itself into the floor, leaving a clean, flat storage area. Well, isn’t that cool, I think.

Until I think a little harder. Sure, a power-folding third-row seat is a nifty option and a clever gizmo for one-upping the competition. Problem is, if you want the third row you have no choice but to pony up an extra $1,000 for the power version, since there’s no other. That reveals a key part of the thinking behind Cadillac’s second SUV: Profits, profits, profits. The base price for the SRX, about $39,000, is carefully calibrated to undercut competitors like the BMW X5–on paper, anyway. But upgrade the standard V-6 to a V-8 and add all-wheel drive and the third-row and a few other options, and you’ll need to call your bank about a second mortgage. The test vehicle I drove topped out at $58,000 once all the options were tallied, a grand chunk of change for any dealer who can shake it out of the customer.

The a la carte pricing shouldn’t obscure the fact that the SRX is a refined and stylish SUV. Cadillac makes no excuses these days for its ambitions–to re-establish itself as a premier luxury brand with uniquely American attributes–and the SRX fits right in with the program. The styling is an evolution of the aggressive, stealth-fighter angularity that debuted on the CTS sedan. The optional Northstar V-8 engine I tested provides instantaneous power. Handling, however, is quite European, which of course is high praise. On one country highway, I was following a Nissan Pathfinder SUV when we came to an abrupt bend labeled with slow-down signs. The Pathfinder’s brakes flashed on, and I could practically feel the vehicle’s top-heavy sway as the driver slowed and steered himself back into a feeling of control. But in the SRX, I didn’t even need to touch the brakes, and the bend felt like a mere wrinkle in the road.

Cadillac has also done a nice job with the interior, infusing it with classy touches without junking it up with unnecessary, show-off gizmos. The centralized display screen does an excellent job of putting all necessary info for the radio, climate system, and other features in one place, while still keeping it simple enough to quickly find what you’re looking for. Walnut trim and leather upholstery convey the obligatory luxury feel, balanced by rough, dimpled dashboard material that adds an industrial touch and in my view serves as an antidote to pretentiousness. The only eyesore in the entire cabin was the gas gauge, and only because I could practically watch it fall in real time as the thirsty V-8 drained fuel. But if you can afford $40,000 for an SUV–or is that $60,000?–you don’t need to worry about such things, right?