My guess is there will not be a significant upgrade of the LS9 from GM, though, for the first couple of years, tuners will have a field-day.
In fact, the LS9 and the 3Gen ZR-1 may be the pinnacle of Corvette performance in most of our lifetimes.
Why?
Well, both houses of Congress have now passed bills revamping CAFE. Though the final bill has to go through conference, Bush has indicated he'll sign a law that will could incrrease CAFE by up to 40% in the next ten years.
More ominous are moves to regulate CO2 emissions. Over in Europe that is farther along that it is here but, when that comes it will impact high-performance engines the most because the only way to make significant decreases in CO2 is to reduce the fuel burned. To make significant reductions in that, requires reducing power output.
Yes, there are some fuel economy gains to be had with direct injection, AFM and computer-controlled cam phasing but even if all that could help Corvette get enough better mileage that it could be sold in 2013 without a guzzler hit, there is still the problem of CO2 emissions.
Both houses of Congress are democratically controlled now and the majority will increase in size. It's likely the Presidency will turn-over in 08. With Democrats controlling both the Oval Office and the Congress, the greens are going to have a feeding frenzy of air quality legislation. That coupled with the possibllity that high-performance cars and full-sized trucks may become socially unfashionable, might just put an end to the performance increases we've seen come just about non-stop since 1982.
Bottom line: If you like fast Vettes and you got money, the new ZR-1 just may be as good as it ever will get.