I've got to agree with Imhotep Evil here..
Wow, there's a first for everything
In terms of sales, there's no way the Z06 will ever make an impact on any of those manfacturers nor with it ruin any of their reputations, but the fact is that the Z06 is a monster of a car.
Whether it lack the overall usability and/or quality of it's German and Italian rivals is up to debate. However what is not up to debate is the fact the Z06 is one of the best performers out there. All of the figures which it recently turned up in Sport Auto's supertest are out of this world. Where as past Corvette's couldn't match European rivals on any corner the same cannot be said for the Z06. If you take a look at my "Nurburgring Cornering Speeds" thread you'll see the Z06 has no problem disposing of vehicles like the 997 (GT3 and Turbo variants) as well as the Gallardo and the F430.
True, it can't slalom as fast a 911 GT3 RS - but overall the Z06 is not a car to be messed with. It's acheives very much for a car with such little ("Roman Charriot" chassis, run-flat tyres, normal steel brake discs and a conventional manual transmission)