A high compression, 5.5L, direct injection engine fits in nicely with the Z/28 moniker. I highly doubt that it will be out in March, but I wouldn't be surprised to see it out say....October, 2012.
Cut the MR out of the ZL1, keep the weight down, maybe eliminate the back seat..... Have it come with very few options available (like the original Z06), something like factory coil-over suspension, a good downforce package.......... There has to be a way to get the weight back down to 3500lbs.
Get 450hp/tq out of the 5.5L and get the weight down to 3500-3650lbs and presto, the Z is back.
Their is something to say about a track monster wearing the Z/28 badge. With 450hp and a weight of 3650, the H.P : Weight ratio = 8.1. Sounds familiar doesn't it???