Actually, GM had planned to do the Z28 to battle the likes of the GT500. However, it was going to cost something like 50mm to complete all R&D and get the car out. GM did not think it prudent to be seen building such a car as this during their financial condition.
Both cars, SS and Z28, would have been sold just as the GT and GT500 are both sold.
TV - The Stangs do have the same engine from last year, but they have the 'Bullitt' tune meaning they have more power than last model year's GT. I have not heard they are lighter however; they still weigh in at about 3500 pounds with the GT500 weighing in at 3800+.
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