I have a c6 vette and a 5.0. The vette is much quicker than the 5.0 but the 5.0 is a better daily driver. I would say c5 z06 is slightly quicker than a stock 5.0. Drivers race vs a ls2 vette (unless it is a 2.73 auto, then 5.0 easy win), ls3 will beat out a 5.0, and ls7/ls9 isn't close.
Of course that is what mods are for. Drive and traction also play a huge roll. I've beat tons of "faster" cars in the 5.0 just because it hooks.
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