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As most of you know, the 2011 GT500 has the all aluminum block from the Ford GT. It is currently producing a rated 550HP but that is probably slightly underrated - it is putting down over 500HP to the rear wheels according to numerous reports.
Don't expect the new Z/28 (and I am a huge fan having owned numerous F-Bodies over the years) to have much more than 565-575HP, if that.
My best guess is around 555 - 560 HP. Why? Chevrolet is not going to outshine the Z06 (which will kill the Z28 on power to weight) nor especially the ZR1. No matter how much we want, beg, plead, threaten, or otherwise try to get a monster Z28 GM has to sell other cars.
Oh, and pricing? It's not going to matter at first because dealers will be gouging the buyers astronomically with their greedy 'Market Adjustment' moves. But don't look for a Z28 to be any less than ~$50k MSRP given what the blower and suspension packages are going to cost as well as how it will compete price-wise with the CTS-V.
Just my two cents but I'm betting I'm not far off... either way, BRING ON THE Z!
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