If the thought of the new 500-hp Ford Shelby GT500 Mustang hedging in on the 505-hp Corvette Z06's territory raises your blood pressure, don't despair: Corvette chief engineer Tom Wallace has a 650-hp trick up his sleeve. A new super Corvette will build on the Z06's 7.0-liter LS7 V-8 that was developed in sync with the Corvette C6.R Le Mans racer. For this limited-production Vette, which might be called the Z07, Chevy will increase the LS7's displacement and bolt on a supercharger to bump output by 145 hp. The Z07, due in 2008, will be further differentiated from the Z06 by the use of more carbon-fiber body panels and a huge hood vent aimed at killing front-end lift. In true Corvette style, Chevy will undercut competitors by pricing the Z07 at about $100,000. This Corvette has been known within GM as the Blue Devil, after the mascot of GM CEO Rick Wagoner's alma mater, Duke, and also as the Sting Ray, but we think they'll go with Z07, or maybe Z06.R.