:Word:
Dollar-for-dollar, Third-Generation F-Bodies can't stack up against Foxes when it comes to stock form OR in modded form. Sure, the L98 TPI 350 was rated at something like 240 horses in the later models ('89+ when they went to dual cats, IIRC), but they also weigh a lot more and the vast majority of them are 700R4 automatics, which suck a lot of the go-power fun. Sure, the T-5 was available for them, but they were fragile at best in those things and any kind of serious mods added on there would kill them in a jiffy.
I'll admit, I love the looks of a clean thirdgen Firebird (not so much the Camaro - too Joe Dirty for me), but I HATED working on all of the ones I've owned in the past. And yeah, I always felt that they cornered better, but they ride like absolute CRAP (especially the WS6 Package Firebirds, which was basically any Formula or Trans Am model). The seating position is weird, with your legs pretty much being straight out, and the thing is so darned low that entering/exiting means literally falling into the driver's seat and climbing out of the darned thing.
Additionally - and this is just my rotten luck, really - they have been accident magnets. EVERY SINGLE ONE of my three accidents that I've experienced in my life as a driver has been when I've been behind the wheel of a thirdgen Firebird (all three were the other drivers' fault, all three idiots got tickets). I dunno if people just can't see them because they're so low, or if it's just some kind of voodoo curse with me, or what. I've owned three '87 model Firebirds (two V6's and one 4bbl 305 Formula) and one '91 350 TPI Trans Am - all very beautiful but otherwise pointless cars that had weird mechanical quirks that I could never figure out, all got HORRIBLE gas mileage (even the 2.8L V6's), had the worst-sounding stereo setups ever, never had room to carry anything, and ... well, anyway, I don't really miss them at all.
Oh, and didja' ever notice the difference in the number of pages for aftermarket parts on the TPI/LT1/LS1 section of any Jeg's or Summit Racing catalog, versus the Mustang-specific section? The F-Body stuff gets maybe four pages; the Mustang stuff is at least three times as huge, and everything is way cheaper. You can only do so much with an F-body exhaust, especially everything from '82 on up; true duals are a royal pain to fabricate, so you're usually stuck with the whole Y-pipe gig, and generally even a full-exhaust 350 sounds like a sick lion gargling Listerine. Sure, there's a buttload of stuff available for 350 motors, but that mostly applies to cars like old Novas and Chevelles and such where you've got more engine bay and undercarriage room to work with, and you're still dealing with a car that's bigger, heavier, and less comfy than any Fox, and any built motor in a thirdgen is almost guaranteed to be limited to an automatic tranny setup ... yawwwwwn.
Trust me, I've been through a total of five F-bodies (including an '81 Camaro Z/28) and two Fox notches, and I'll gladly take a beat-up Fox over a pristine thirdgen F-body anyday - not for the sake of loyalty or sentiment, but just plain mechanical practicality. Plus, I like being able to actually get more than 17 MPG on the highway, and have some cargo room to stow more than just a case of beer.
FWIW, there's a fairly nice-looking maroon '89 Trans Am with T-tops and 16" gold GTA-style rims on the corner of Delaware and Superstition down the street from me for $1500.