Chevy has always kept the Camaro from being the Top Dawg in the lineup as far as HP goes. If the base Corvette is 425 in 2010, that is the most power they will probably put in the Camaro, at least on paper.
Unknown except to the hardcore enthusiasts, the 305HP Z28 put out just as much HP on a dyno as the 345HP Corvette. Mostly because they had the same engine!
My 2000 SS Camaro was badged at 320HP and made 312rwhp as delivered at 700 miles. Certainly it had more the 8HP driveline loss. The Corvette that year was badged 350HP. Same engine except minor details, same output.