Let's assume for a moment it's rated the same as a Z06, at 505 HP.
If it had a price tag set in the mid-40s thereabouts, I could see this as a mid-range affordable performance Camaro. Not a 1LE, but not a ZL1 either.
And just plain call it an LS7 Camaro and leave it at that. Of course, only GM knows for sure right now whether we're going to see anything like that or not. So we wait.