The new Mustang, Camaro, and Chrysler Pentastar v6's are all 300+ hp(though the torque curve is less than impressive).
Nowadays, a lot of the new muscle cars and the Corvette are easily in the 800+ HP range......able to pull this off with nowhere near the money required to purchase a high-end European import...and still maintain respectable driveability. People who buy cars like Ferraris, Lambos, etc...buy them for their exclusiveness, uniqueness, and the fact that they have a LOT of money to throw away. If you want to go fast on a relative budget, you would never, ever consider any product out of Europe.