The american V8s just keep getting heavier and crappier-handling, even though they're still upping the BHP on them over previous generations. I'd still take my '99 WS6, for all its faults, over any of the new GM/Chrysler V8 muscle cars (and even that car is a fat pig handling-wise compared to the 370Z).
The plus side is that the aftermarket for those engines is enormous, making it cheap to up the power a lot. In terms of dollars spent to reach a given time in the 1/4 mile, go with the Chevy over the Z. But it will never have the finesse and handling the Z does.
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