Porsche Preparing Bugatti Beater?

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The Heads that are of the Piston variety report on a story in this week's Autocar indicating Porsche is going after the Bugatti Veyron with a LeMans-style racer for the well-heeled public. Word is, the GT1 will be based on, but far outperform the Carrera GT supercar, with 950 hp and a top speed of 254 mph. It'll have a new nose and tail, presumably to further reduce lift. The finished product is said to arrive in 2009, possibly with a twin-turbo V10 or worked-over V8.

Porsche GT1 Emerges [Pistonheads]

They Don't Shoot 605 Horses, Do They? The Carrera GT is Dead [internal]