This paper describes a totally redesigned new generation 5.7L Small Block V8 Engine. The engine was developed by the General Motors Powertrain Division for use in the Chevrolet Corvette.The paper describes how the Engine Development Team fully succeeded in achieving the elusive goal of “balanced excellence” of various engine attributes. In order to be worthy of the famous LT1 designation from 1970, this engine had to exceed pre-fuel economy and emissions regulation era power and yet equal or exceed current world standards for specific mass, size, fuel consumption, engine out emissions, startability and speed range of usable torque (or torque bandwidth, defined as range of speed over which torque exceeds 90% of peak torque). Compared to 1991, there is a simultaneous increase of over 20% power and over 1 MPG. Also, the torque bandwidth is doubled.The major systems described in this paper consist of the unique reverse flow cooling, lubrication, ignition, power and torque development, noise and vibration, knock and emission control via digital computer, induction, fueling and accessory drive. The paper shows the system reliability growth and compares various V8 engines for engine attributes.