ORIGINAL: RLSH700
I would doubt they would offer the LS7 in the Camaro since it is the Corvette's top engine. I could possibly see them putting it in the Firebird but not the Camaro.
Same was true of the LS1 at one time. Top GM engine in the Vette. Later put into the Camaro/Firebird. Before that it was the LT1. Top GM engine put into the Vette. Later put into the Camaro/Firebird. Now that's not to say they must continue this tradition, but that is how it has been in recent years.
Actually, the Firebird did have some special models that the Camaro didn't have. The Firehawk was offered with the Firebird and if I'm not mistaken, the Camaro never got their own version of this model.
Firebird - Camaro
TransAm - Z28
Firehawk - SS
Racer X, I believe if GM decides to make the GTO instead of the Firebird, it will be in a different class attempting to appeal to a different crowd. If they do this (which I hope they don't) the Camaro will be probably be exclusively inexpensive performance and the GTO will probably be another attempt to compete with BMWs and Mercedes.
This has been the idea with the new GTO from the start. Remember, there IS a Camaro Concept. When the cars were discontinued in 2002, Camaro was said to be on "hiatus" indicating a later come back. During the same time frame, Bob Lutz has said "The Firebird's day is gone." I don't like it, that's just what he said.