Now, sprachgefühl is more abstract (after all, it refers to the "feeling", which while similar is not strictly the same as "preference"), but I'd argue that "preference" is a decent replacement conveying everything that was intended, and the best fit given the English vocabulary. If you find a need to be more explicit, try something along the lines of "opinions on language aesthetics".
"Sprachgefühl" is not a widely accepted loanword (it appears reserved for those that pick their own loanwords to show off their diverse linguistic skills—smartasses, so to speak), and it looks awfully out of place for those of us that understand German.
As I mentioned elsewhere in this thread, this is not the case. The word is an accepted loanword in linguistics jargon, and the linked article was written by a linguist mainly for other linguists. This German word was not picked to "show off" anything. Rather, since linguistics in the 20th century involved having to read material in, besides English, at least French and German as well, lots of German loanwords just naturally passed into the jargon of linguists because they seemed apt, not because anyone wanted to impress their peers (for it would hardly seem impressive, one’s peers being able to read German just as well).
A bigger bug bear for me is the English pronunciation of French loanwords like accessoire. (And I do wonder how English speakers actually pronounce Sprachgefuhl. They probably mangle beyond recognition.)
1. Original pronunciation, but entirely different meaning 2. Original meaning, but entirely different pronunciation 3. Neither pronunciation nor meaning has anything to do with the original, but it's still spelled the same.
I like Japanese. They do #2 out of strict necessity due to their very limited sounds, and shorten the result so that we can't easily recognize it (e.g., personal computer -> pasonaru konnputaa -> pasokon).
As for sprachgefühle—I really don't think there is any need for that word. It's doesn't seem to fill a gap, other than an emerging love for German compounds.