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Deep within the Firebird Trans Am beats the heart of a Corvette. For 1998, Pontiac slipped a slightly detuned version of the Corvette’s 5.7-liter, aluminum LS1 V8 into its aging sports coupe, and this rascal flies.

It’s not that last year’s Firebirds were slow, mind you, but the new engine is a real gem. Not only does it crank out 305 horsepower and yank you to 60 mph in less than 6 seconds, but it is smoother and more efficient. Gas mileage is up to 18 mpg in town for the automatic transmission despite the fact that this powerplant has 20 more horsepower than last year’s.

The new V8 is standard on the Trans Am, Trans Am convertible and Firebird Formula coupe, as well as some Chevrolet Camaros. The base Firebird coupe has a 200-horse, 3.8-liter V6.

Available transmissions include a six-speed manual or a four-speed automatic. Our test car had the automatic, which would definitely be my choice, since the six-speed has a heavy clutch and a stiff shift linkage.

For speed fanatics who want even more, the WS6, or Ram Air package ($3,100) has 320 horsepower and 17-inch speed-rated tires. It also has huge nostrils on the hood that aren’t very attractive.

The `98 Firebirds get a redesigned front end with a shapely hood, pop-up headlights and a new fascia dominated by parking lights used for daytime running lights. The Trans Am gets fog lights mounted near the center of the grille, while the Formula has them mounted outboard. Taillamp lenses have a honeycomb pattern.

Tearing around in this car is like reverting to teenager-hood. It bellows and howls so fiercely you can’t be sedate even if you try. Just knowing that 305 throbbing horsepower is just a tap of the throttle away also brings out the kid in you. But this is a seriously fast car, not one for young or inexperienced drivers who can get in over their heads instantly. Not only does it accelerate like a rocket, it has a top track speed near 150 mph.

The Firebird’s chassis layout is about as basic as it can be: front engine, rear-wheel drive, solid rear axle. It feels big and heavy, and it rides fairly roughly on anything but perfectly smooth pavement, in spite of revalving the shock absorbers.

When the pavement is dry and smooth it sails through turns with a lot of grip and very little body roll, thanks in part to wide, fat tires that grip like Velcro.

When the pavement is wet, or slick, the improved traction control system limits wheelspin and actually makes winter driving acceptable.

When a car is this fast, good brakes are essential, and this year Pontiac upgraded the size of the brake discs and added a new anti-lock system.

Good seats, too, are essential, and those in our Trans Am gripped like a giant hand. Some folks may not like their pronounced bolsters, but they do a better than average job of holding the driver in place. The back seat is quite tiny, of course, but it does fold down for added luggage space.

T he cabin is small considering the overall size of the vehicle, and the passenger’s leg room is reduced by a lump in the floor to cover the catalytic converter or muffler.

At night, the Pontiac’s large, simple instruments are lit by a red glow said to reduce eye strain.

Befitting the youthful image of the Trans Am, it comes equipped with a 500-watt, 10-speaker Monsoon audio system that can blast you out of the car. Sound quality is excellent, but at highway speeds there is so much wind/road/engine noise that you can’t hear it as well.

Last year, Pontiac sold about 25,000 Firebirds, just a fraction of its heyday. With a shrinking sport coupe market and the rising popularity of sport-utility vehicles and trucks, the Firebird’s future could be uncertain. Until something is decided about is future, it remains a living example of the muscle-car art.

Price

The base price of our Trans Am test car was $25,975. Options included the 3.23 performance axle and articul ing bucket seats. The sticker price was $27,330.

Warranty

The standard warranty is for three years or 36,000 miles.

Vehicles for The Star’s week-long test drives are supplied by the auto manufacturers.

Point: The LS1 aluminum V8 proves that overhead-valve V8 engines can still get the job done. The 305 horsepower gives the Trans Am impressive acceleration and a towering top speed.

Counterpoint: The Firebird is showing its age. It has a choppy ride and the interior feels crowded, especially on the passenger side where there is a hump in the floor.

SPECIFICATIONS:

ENGINE: 5.7-liter, V8

TRANSMISSION: automatic

WHEELBASE: 101.1 inches

CURB WEIGHT: 3,477 lbs.

BASE PRICE: $25,975

PRICE AS DRIVEN: $27,330

MPG RATING: 18 city, 24 hwy.