Maybe performance wise, yes, but eye candy wise or bragging rights wise? I don't think so.
I believe they need a different body style to compete with the high rolling European supercars. Mid engined, maybe AWD, and definitely spruce up the interior appointments to ooze quality.
Quite honestly, the average Joe is not going to be able to tell the difference between a ZR-1 and a standard C6. But a Ferrari or Lambo rolling by will definitely catch their eyes as something exotic. In my opinion, the ZR-1 just isn't different ENOUGH to get that "OH, BABY!!" gasp from a viewer. To get to that plateau, GM needs to stretch their design department quite a bit.
Hell, for the money, I would rather contract someone to build one of these babies for me ->
http://www.factoryfive.com/gtmhome.html
Take a look at these pics and tell me they don't just give you goose bumps all over.....