Now, when GM comes to their senses and gets with the program, there should be high grade materials inside, solid, durable paint outside, and a 32 valve DOHC V8 making about 450 hp and smooth as silk under the hood of that Vette..... Oh, wait. I'm sorry. That would force the price of the car up about 30k, or to the price of an NSX.
You're funny
GM did exactly that, back in the early 90s with a Corvette called the ZR1. This Vette was produced from 1990-1995.
Motor Specs:
The ZR-1 engine or LT5 was an all aluminum block and cylinder heads, 4 overhead camshafts, 32 valves 350 cu. inches V8. The HP rating was 375hp at 370 ft lbs of torque from 1990-1992 and 405hp at 385 ft lbs of torque from 1993-1995. Designed by GM and Lotus. Came with a 6-speed transmission.
The reason why they stopped production of the LT5 motor was because sales were low and it would cost more money to redesign teh LT5 motor since the C5 Corvette was only two years away.
Here's the Complete specification of a ZR1 Corvette.
http://www.zr1.net/ZR1_specs.html
Picture of the LT5 motor.
1995 Corvette ZR1
P.S. Know the facts before you run your mouth.