I would disagree with you Russ. I own two vipers and a Z06 currently. I have had them both on the road at the same time (me and a friend.) I have the slower Z06 (2001 year) against my Gen 1 Viper from a 60MPH roll in 3rd gear. The Viper has 3:55 gears as well. Both cars had K&N but Viper had exhaust and Z06 was stock. We both punched it at exactly the same time (remember, these are both my cars.) We let off at about 110 MPH and the Viper had about 1 car on me (Viper rear bumber to Z06 front bumper.) My buddy driving the viper has extensive race experience, so no error on his part... plus it was a roll on the freeway, so he just stomped it, like I did.
Now, a Gen II has an extra 50HP, so perhaps that would make the difference (video is dead and I dont recall if it was a Gen I or II... I thought it was a Gen I. However, when you factor in the exhaust gain in HP on my Gen I, plus the 20HP gain on all other Z06's (minus 2001 year) you're talking about a difference of 10hp between the newer Z06's and the Gen II's. That isn't going to make all that much difference at a 50 or 60 MPH roll.