Z/28's got a lot of potential on this one, Chuck..
Take all the weight out and put on wide tyres, drop the rear springs down to around 250lbs 290-300lbs.. and loosen up the diff to a 20/40 and you shouldn't have any problems with the back end coming round on you... 
You were spot on, Pete. The back end lead me around the track.

Actually, I played around with a totally different type of build for the Z28. I'd been reading a thread on the daught where a fellow was advocating really stiff springs. He was simply taking the car's weight, multiplying it by the distribution percentage, dividing by 2 and setting the springs to match. (I.e., if your hypothetical car weighed 2000 lbs. and had a 60% distribution, the front weight is 1200 lbs. divided by 2 gives you 600 lb. springs. The back springs would be at 400 lbs.)
His idea is you have the fixed springs from the weight and then you tweak the ARBs and damper settings to finetune. It makes for some ridiculously high (actually, in some cases it's above the max possible) spring settings, but I figured it wouldn't harm anything to give it a shot.
Applied to the Z28, it really does make a difference. I need to do more work with it, but it makes the car ultra-responsive (almost too much so for my style of driving and the fact that I'm using a controller). I would be interested to see what a good driver thinks of a tune based on that idea. (If anyone's interested, this is the thread:
http://forums.forzamotorsport.net/forums/thread/2014923.aspx)
FWIW, I also took the ZR-1 out for a quick spin. My last lap I was on pace to get below 97.xxx and I lost it. I didn't lose control of the car, but I literally lost over a full second, and I have no idea where I gave it back. I didn't make any (obvious) mistakes, and I thought I was going just as hard as I could, but I gave it all back in the section of track *after* the nasty uphill right hander.
Chuck