1) It might, no information has been released about it, besides the pic and this one:
2) As of what I've heard from people who have driven and experienced the 350Z, I think they are.
And a little more data I dug out for the Nismo VQ35 (or VQ38, depending what you decide to call it):
Nissan Motorsports (NISMO) now offers a "crate" VQ35 engine (350Z) that produces 450 horsepower.
Each crate engine is laboriously handcrafted in Nissan's Tokyo facility, and each part within this engine is available from Nissan dealers in Japan.
The VQ sports 13.5:1 compression and uses a Pectel T6 ECM for fuel and spark control. What kills us is that this thing uses stock cylinder head castings!
And a little extra, Stillen is currently developing a SuperCharger for the 350Z, in the current status of it, you have to use a special (and I might add, cheesy lookin) hood, to allow enough space for its placement. Don't have any prospective power figures on hand.
Also GReddy can now be added to the list:
Prototype Twin Turbo Kit with:
Twin GReddy/Mitsubishi TD05H-18G Turbochargers
Twin External Type S Wastegates
One off Stainless Steel Turbo manifolds
Twin Airinx AY-SB open element air-filters
Prototype Front-mounted Intercooler
3 Row Type 23 (H292 x W600 x D115mm)
Dual inlets end-tanks to a large 80mm single outlet entank.
e-manage (piggy-back ECU)
PRofec e-01 electronic boost controller and e-manage programmer
Full Auto Turbo Timer
Prototype Full Dual Evolution Cat-back exhaust system (dual 60mm)
GREX/ Alcon 6pot Calipers with slotted 360mm rotors (light-weight)