GM caught the automotive world off guard when it rolled out the 2014 Camaro Z/28, and it was just the kick the Chevy muscle car needed. Lighter, sleeker, and more powerful, the new Z/28 also boasts a refreshed front and rear fascia, as well as a host of track-ready goodies to help weekend warriors who like to show off on the street.

While the 2014 Camaro Z/28 hasn’t hit dealerships yet, funnyman and gearhead Jay Leno got GM to bring the all-new 505-horsepower Camaro into his garage for a chat and a drive. Oh how we envy you, Mr. Leno.

A quick refresher course for any Camaro fans who haven’t been paying attention: GM stuffed the Corvette Z06’s 7.0 liter LS7 engine into the Camaro, giving it a 505 horsepower rating. This engine features a dry-sump system to ensure proper oil flow even in hard corners, which the Camaro Z/28 is designed to eat up thanks to bigger Brembo brakes and a spool-valve damper system developed specifically for racing.

GM engineers also managed to shave 100 pounds off of the heavyweight Camaro, which helps it keep up with much more expensive cars. Jay speaks with the Chief Engineer of the Camaro, Al Oppenheiser, about all of these and more at great length in the video before he finally climbs behind the wheel. Jay even gives chase to a Porsche 911 Carrera in his short time behind the wheel, giving us some excellent audio of that heady 7.0 liter V8.

You’re going to want to stick around for the test drive, that’s for sure. Oh, and check out the bombshell at the nine-minute mark – Oppenheiser says the Z/28’s price tag will be, “north of” the ZL1… Ouch!