It looks like GM is poised to deliver some automotive value and giving Nissan some 370z competition with the upcoming base model camaro that packs a 3.6L direct injection v6 under the hood. This will let the entry level Camaro buyer walk away with over 300hp without having to pony up the extra dough for the V8 models and undoubtedly jumpstart the aftermarket support that is probably already brewing for this car.
It's not going to be quite as fast as the 370z nor handle as well, but will probably come in quite a bit cheaper.
Some additional photos and details at the camaro5 forums.