My perspective:
1. Competition is good, this will put pressure on SRT to also up the ante on the Viper
2. We heard that the C7 Corvette "met their goal of 3,000 pounds." Untrue rumor, which was mentioned shortly before their reveal.
3. We also heard that the C7 base model would be faster around the track than the C6 Z06. At an estimated 3350 pounds (if memory serves) and an estimated 450 HP, it's not going to beat the lighter, more powerful C6 Z06. Untrue rumor.
4. Those who want to suggest that it will be "all over for the Viper" over this - that's pretty pessimistic. SRT will be on their game too. There's an ACR coming, they will continue to improve the Viper, and some sort of special track edition, at least that's the rumor. SRT won't remain static, they'll up the ante too.
5. I like Corvettes, I hope they do acheive significant performance gains in the Z06 and ZR1.
Still, I'm not putting a lot of weight on the rumor mill, at this early stage.