I don't actually recall where I read these reports, but I've seen rwhp estimates of around 500 for the GT. That "550 hp" rating is closer to the actual flywheel value, but I wouldn't bet the farm on it being dead on. Think about it ... DOHC, 5.4 liters, twin screwed ... with probably "better engineering" than what was put into the '03/'04 Cobra motors ... and the average for a stock '03/'04 is 370rwhp (and that's conservative, with strangled exhaust and intake) ... 500rwhp seems like a cakewalk to me.
From what I've read/analyzed about the car, being mid-engine and all, the GT should be into the mid to low 11 seconds if you can drive it. Those preliminary high 11s you see in the magazines hardly do it justice, just like every other botched quarter mile time they publish. (I'm reminded of all the magazines that couldn't break into 12s with '03/'04s with so-called professional drivers.)
The reasoning for this whole bump, in my eyes, is to allow a little more room for the lower end models to have higher horsepower numbers. With the GT being 550, they can legitimately sell a 500hp (or thereabouts) Cobra/Lightning/Shelby/etc.