My 2005 MO jumps off the line much faster in S than in D. D seems to have a bit of a delay to smooth out the acceleration right at the beginning while S gives me no delay and will snap your head back if you punch the pedal.
S also gives a faster response when accelerating at speed, like if you want to pass someone on a highway. If I need to make a quick pass (meaning I need to get around and back into my lane as fast as possible) I'll push it over to S before I start my pass and it gives me a faster response when trying to jump up in speed quickly.
It does NOT reduce your top speed, because the CVT won't let you red-line anyway, so you can be going 116mph (I think that's the limiter) and still push it over to S without any harm. For me it seems to do 2 things different than D:
1) Tries to keep RPMs about 2500 whereas D tries to keep it at 1500
2) Shorter response time changing RPMs (D tries to make it more gradual to improve the ride, S makes it quick for performance).
Oh, and of course it drops your MPG in S....
