Yes, both cars have their advantages and disadvantages.
The LS1 is a great motor in the sense of the ammount of power it delivers versus gas mileage and efficiency.
The F-Bodies are far from being perfect and so does the Mustangs.
About the pricing issue:
Mustang GT MSRP Base: $23,230
Camaro Z28 MSRP Base: $23,445
Sources:
www.ford.com and
www.chevrolet.com
The base Z28 comes with Air, power everything except both seats. It does lack a CD player and T-Tops and other things but it is a well equiped car.
Which brings me to another point, doesn't it piss you off when people say a car is fully loaded when it is not on used car sites? ALL Z's (except 1LE) come with Air and power everything but they list it as fully loaded when it doesn't have T-Tops and CD player. Geez!