Although its tough to live in the shadow of such a daunting “big brother,” namely the ZR1, the Corvette Z06 is a hell of a machine in its own right. To prove it, Car and Driver magazine took to the Virginia International Raceway (VIR) to test out the new 2011 Corvette Z06 equipped with the Z07 package. This is actually a common thing for the car rag, as they regularly conduct time trials with cars pitted against equally-priced competitors. Since there are five classes and Corvettes can be found in two (the LL2 class ($30,000-$60,000) and LL3 class ($60,000-$120,000)), Car and Driver had plenty of seat time with the ‘Vette.

But what exactly is the Z07 package on a Z06 ‘Vette, you ask? Easy, the Z07 package features Magnetic Selective Ride Control, Michelin PS2 tires and the ZR1’s Brembo carbon ceramic brakes. Of course, the Z06 also has the new CFX carbon fiber package making this the lightest Corvette in the lineup.

The Z06 dominated the LL3 category with an impressive 2:53.5 time, ranking it 7th in all Lighting Lap track attack times around VIR’s 4.1 mile circuit. Moreover, the Corvette Z06 finished 3.7 seconds behind its ’10 Corvette ZR1 sibling and 5.3 seconds faster than the Z52-equipped Corvette Grand Sport from last year (in the LL2 class). And how about those big-dollar competitors? The Corvette Z06 finished ahead of the Lamborghini Murciélago LP670-4 SV and Ferrari 430 Scuderia.