Good newer cars include: Supra, EVO, WRX STi. Those three are all beasts. If you can find a used Supra twin turbo, I believe they're around 30k right now, but you can mod them out fairly easily. I saw a dyno test of a 900HP Supra that nearly shook itself off the dyno machine. I also saw video of a twin turbo 600HP Miata on the road that accellerated CRAZY fast.
For those who say "there is no replacement for displacement" aren't quite right. Power to weight ratio can make a big difference. In the straights, bigger is most likely always better and has the potential to be pushed further HP wise. But, in the real world or in a road race, a slightly slower car in the 1/4 might out-handle the faster cars by a significant margin.
Just look at the Lotus Elise. That thing is practically a go-kart, but it handles like nobodys business.
By the time I am able to save for a Challenger I am going to want to upgrade the suspension as much as I can. Wide low profile tires and a low/stiff suspension in addition to fiberglass hoods/fenders would probably help push that old hunk of metal to handle more like a modern car. The E bodies are already low and wide... so they've got that going for them at least.