I don't want to "feel" shifts. Whether it is an MT, a DCT, or a ZF 8Speed shifts should be smooth and virtually imperceptible. If you can feel the shifts so can the contact patches and if the contact patches can feel the shifts it can potentially upset the balance of the car. You may be able to get away with jerky shifts when you are well below the limit of grip but if you are driving at the limits a jerky shift will upset the balance of the car and potentially lead to a loss of control. A computer controlled AT whether it is a "traditional" planetary geared transmission or a DCT should not emulate a poorly driven MT.
I have not driven the new M5 but I have driven the M235 Factory Racer, which has a ZF 8 Speed) and was very impressed with it. I discussed that transmission at length last year with Will Turner and the Turner Motorsports crew when they were shaking out their M235 race cars. They told me they were very impressed with how fast and how smoothly the transmission shifted.
If the new M3 comes with the ZF 8 Speed I will not pass judgment until I have driven one.