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I don't fall for all that stuff about the Camaro being "new", as a justification for a premium price (MSRP). That thinking doesn't work in the long run.
From what I've been reading a new Mustang is set for 2011 or so. The rumor is the Mustang GT will have upwards of 400hp and a new body style. If GM prices the V8 Camaro too high, it will leave the door wide open for the next Mustang (which will now be the "new" car on the block).
I'm sure the Ford executives are hoping GM moves the price up as high as possible on the new Camaro. That will suit them just fine.
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