NEW YORK (MONEY Magazine) - An American sports car that goes fender-to-fender with Ferrari and Porsche for 45 grand? Have we been sniffing Armor All? Hardly.

For more than a half-century, the 'Vette has been a uniquely American object of desire. That patriotic lure gets cranked up a notch with this sixth-generation model, thanks to a neat trick: It performs better than the last version, yet raises its already lofty standards of everyday driveability.

Scaled-down proportions and a tailored body continue the car's welcome evolution from veiny bodybuilder to streamlined athlete. Even the pop-up headlamps, a fixture since the '63 Sting Ray, have been jettisoned to boost aerodynamics and top speed while reducing wind noise.

That top speed, by the way, jumps to 186 mph, thanks to a bigger 6.0-liter V-8 with 400 horses under the hood, up 50 from the previous model. The car snaps off 0 to 60 mph in 4.2 seconds -- thankfully, massive disk brakes halt it with never a trace of fade. But juicier numbers tell only half the story.

For all those people who are tired of having their belongings squeezed and butts bruised by sports cars, the Corvette asks no such sacrifice. Coupe and convertible models handle better and ride smoother than ever, especially with their optional Magnetic Selective Ride Control, which employs high-tech sensors and magnetic-fluid shock absorbers to smooth bumpy surfaces and straighten nasty curves.

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Cargo space remains huge and fuel economy surprisingly high at 20/28 mpg with the slicker-shifting six-speed manual. Inside, there's a quieter cabin and richer fittings that, finally, won't leave owners mumbling excuses to passengers for a cheapo look.