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The problem with the lighter/smaller engines is that GM would be tapping more potential from the engine and there would be less room for improvement.
I personally wouldn't mind because it'll be my first v8, but if people want to race them and completely soup up every last inch of the engine, they'll be VERY disappointed.
Think an Integra/Civic with $15k into the engine. Turbo, exhaust, nitrous, etc. etc.
That might keep up with a 2002 Camaro SS.
Now think about doing the same mods to the SS. Not a chance in hell the Civic could keep up.
This brings up the old saying "There's no replacement for displacement because you have a much bigger canvas to use. If the Camaro starts shrinking engine size/weight for more power they're basically getting closer to the engines max potential meaning there wouldn't be much you can do to make it faster aside from an engine swap.
This is what someone from a Corvette forums and I were discussing at the M:TG states yesterday.
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