The only thing I have any disagreement with in the above post is the drivability. With a big enough budget, EFI, and some very good tuning you could probably make it drive ok. Of course, it would still be a 14:1 motor running on 114+ octane race gas or methanol.

As a comparsion, look at the LS7. 500hp is all GM could get from an OHV 427on pump fuel with OEM levels of drivability and reliability. Of course, the OP and everyone else in this thread isn't expecting that level of civility, just putting it in as a point of reference. 700 is a bunch of hp from a small block intended for street driving. My original 427 BB 13.5:1 methanol race motor didn't make anywhere near 700hp. Reher-Morrison's 427ci small block 23 degree head bracket motor makes 700hp. http://www.rehermorrison.com/rmEngines.htm

Rich

 

I guess I don't agree that 505 hp was "all GM could get on OEM levels of drivability snd reliability". I suspect they targeted 500 horspower from the start. The few guys that I know with Z06's are all putting out over 475 rear wheel horsepower with nothing other than a change to a CAI. That doesn't change either the drivability or reliability to my knowledge.

One guy, Jeff French (CorvetteForum) out of Pa, had a head/cam job done and puts out 676 rear wheel horsepower and you'd never know it at idle and around town. Of course, press the loud pedal and it takes off like a shot...

 

Ok ... so maybe I was on a bit of a rant ... Rich is right though lol.