no, v8s dont out accelerate everything.

but an LS1 will send an ITR owner home crying. *edit - now that i think about it, an ITR with a turbo wont keep up with an SS with the SLP package. i bet an ITR turbo, safe amount of boost & pump gas wont hit 13.20s... stock SSes are hitting 12s.

the gas thing... thats a common misconception too. stay off the gas pedal and youll get pretty decent gas mileage, just like any other car. its just when you have somewhere around 350hp at the flywheel, you tend to get on it a little bit more often than a car with what... 130 ft/lbs of torque?