I thought about it...that's about as far as it got!
I had a Cadillac CTS and wanted a 2-door replacement with a V8 now that my kids are in forward facing boosters. (I've been driving sedans for the past 7 years after trading my '95 Mustang Cobra in on a 300M...then a Cad CTS...then another Cad CTS).
Honestly, I'm sick of the dealer BS everytime a "new model" comes out. Also, I had some negative experiences w/ my last CTS and didn't want to re-live any of that (I think the V6 Camaro shares the same drivetrain).
Unlike others, I think the new Camaro looks great (as does the Challenger).
The problem I have with both the Camaro and the Challenger is that the sticker price goes exponential (as for the dealer markup too, I'm sure) when you get into the V8 model. Maybe in a couple of years when the new car mania wears off I'd consider getting one but for now I'm pretty happy with the new (08) GT I just bought.
Worst case scenario, my Mustang will get me by a couple of years until I have the urge to get something new again...best case scenario I'll keep it for a LONG LONG time!
This Mustang is the third I've owned (65 Fastback, 90GT, 95 Cobra) and FWIW, I wouldn't have been in a hurry to get rid of the Cobra (even though I'd owned it for five years) if it wasn't for my first kid being on the way. My wife sold her 95 V6 Convertible Mustang around the same time so it was a double Mustang loss for the family.
So, I considered the new Camaro (and even waiting for the 2010 Mustang) but the current deals on the 08 Ford models won out for now!