If you were a car-crazed kid in America any time between Eisenhower and LBJ, chances are you learned about one sports car before any other: Corvette. It might've been a two-tone C1 roadster, a split-window coupe parked among svelte Corvairs and boxy Impalas on your neighborhood dealership's showroom floor, or Tod and Buzz's dull gray convertible on television; but the long hood, the short deck, the two buckets, and the brawny, yet sophisticated American swagger caught your eye. It was the stuff dreams were made of.

Now one of America's longest-lasting nameplates, the Corvette has had its toe-curling Elvis-in-Vegas years (the awful, asthmatic C3s of 1975-1977 were the absolute nadir). But the opening decade of the 21st century finds America's own sports car in the best shape it's ever been. The 2008 C6 is the sharpest, fastest, and best-finished Corvette yet, while the 197-mph Z06 is, quite simply, the best-value supercar you can buy anywhere in the world.

That's a good question, because right now GM execs are planning the next-generation Corvette, the C7. What they decide over the next few months will be hugely important. For the first time in history, GM wants to take Corvette-one of the few American GM brands that doesn't play in the discount department of the mass market-global, accompanying Cadillacs in showrooms in Europe, Asia, and Australia. Complicating the picture are proposals to take the U.S. Corporate Average Fuel Economy mandate to 35 mpg by 2020. Depending on the fine print, the doomsayers hint there's a real chance that could mean there's no C7 at all.

Here's what we know: GM is considering at least three scenarios for the C7, and GM Design is still some time away from boiling down competing proposals (at least five were in the mix at one point) for the car. That means the car, originally planned for the 2011 model year (to coincide with the 100th anniversary of Chevrolet), will likely launch as a 2012 model and may even slip further, depending on how the new CAFE regulations pan out.

If you were a car-crazed kid in America any time between Eisenhower and LBJ, chances are you learned about one sports car before any other: Corvette. It might've been a two-tone C1 roadster, a split-window coupe parked among svelte Corvairs and boxy Impalas on your neighborhood dealership's showroom floor, or Tod and Buzz's dull gray convertible on television; but the long hood, the short deck, the two buckets, and the brawny, yet sophisticated American swagger caught your eye. It was the stuff dreams were made of.

Now one of America's longest-lasting nameplates, the Corvette has had its toe-curling Elvis-in-Vegas years (the awful, asthmatic C3s of 1975-1977 were the absolute nadir). But the opening decade of the 21st century finds America's own sports car in the best shape it's ever been. The 2008 C6 is the sharpest, fastest, and best-finished Corvette yet, while the 197-mph Z06 is, quite simply, the best-value supercar you can buy anywhere in the world.

That's a good question, because right now GM execs are planning the next-generation Corvette, the C7. What they decide over the next few months will be hugely important. For the first time in history, GM wants to take Corvette-one of the few American GM brands that doesn't play in the discount department of the mass market-global, accompanying Cadillacs in showrooms in Europe, Asia, and Australia. Complicating the picture are proposals to take the U.S. Corporate Average Fuel Economy mandate to 35 mpg by 2020. Depending on the fine print, the doomsayers hint there's a real chance that could mean there's no C7 at all.

Here's what we know: GM is considering at least three scenarios for the C7, and GM Design is still some time away from boiling down competing proposals (at least five were in the mix at one point) for the car. That means the car, originally planned for the 2011 model year (to coincide with the 100th anniversary of Chevrolet), will likely launch as a 2012 model and may even slip further, depending on how the new CAFE regulations pan out.