There is lots of "information" flying around at the moment, but here is some of the more realistic stuff. Basically, the replacement for the Supra is looking like being a one step shot into the ranks of the Mercedes SL, Jaguar XKR and Porsche 911 class. Initially the target was a super sports car of world beating spec, but it seems Toyota made the decision to proceed into the grand tourer league instead (although what that means for the existing SC/Soarer is a bit baffling for us, but we are easily baffled).
The floor pan seems to be based on a shortened LS430/Celsior with extensive modifications to lift the rigidity to the levels required. The layout will be "FMR" in local speak: front mid-ship mount, rear drive. To keep the dimensions for a sporty coupe, a V10 or 12 was too long (and too heavy), so they were discounted early on. The aim of keeping the weight of the engine behind the front axle pushed the development team to a less length and weight challenged V8 power plant.
The existing 4UZ was deemed too lethargic for the task, so a bored and stroked version was made. That was not deemed up to the task either, so a new block design etc. is in the works. Interestingly, there seem to be two new V8s under development at the moment - one is likely LS bound, while the 5000GT (or whatever it is finally called) will get the other. The "other one" will likely be boost-able, with supercharging being the strongly backed option for more herbs and spices (editor: does this have anything to do with KFC?).
Suspension may be a new active system that has been under development for sometime now (although that may be destined for the LS saloons). However, rumours are that the capacity of the system is such that it can take the inputs from a high performance car too, and not only a waft-mobile.
Expect the full kit of the usually fun killing stability control, traction control, and brake-by-wire to appear, but the twist being it "will be tuned to provide world class performance and driver enjoyment" (where have we heard that before?).
Oh, and you want to know about power? Well, 350ps and 50kg/m seems to be the start line - with 380ps being bandied about. Whispers of a 420ps+ output for a boosted version have been heard, too!!
Naturally, it is early days yet, and the spec is likely to change - but we have high hopes that the goods will be delivered. Toyota is finally making all the noises of a company that is serious about making its products fun to drive. We can't wait to see the results!!
-Anthony Winston