They say the best things in life are worth waiting for. The Viper SRT10 ACR is probably the last version of Dodge’s supercar before the Viper brand is sold by its ailing parent company, Chrysler LLC, but it’s also the best by far.

Powered by an 8.4 litre V10 producing 600bhp, this 200mph car is an out-and-out thrill-seeker that leaves petrolheads with just one question - what took you so long, Dodge?

Before you start thinking this is just another American straight-line missile with no cornering ability, think again. The ACR stands for American Club Racer, and Dodge takes that badge seriously.

In a recent test at an American race circuit against a Lamborghini Gallardo Superleggera and a Porsche GT3 RS, with a professional racing driver at the wheel, the Viper ACR was three seconds faster per lap than either Italy’s or Germany’s finest could manage.

How it managed that is down to a small team of engineers at Dodge called the street and racing technology (SRT) department. It doesn’t have huge budgets to spend, so to make the standard Viper lighter and faster it has to use the time-honoured techniques of throwing away nonvital parts and retuning what’s left.

The engineers first tried this on the original 1999 Viper ACR, but the 2008 version is a far more comprehensive makeover. Whereas the first modifications were something pretty much any weekend mechanic could have done to their Viper, this new one is anything but.

The first reason for this is the extensive aerodynamic package. You won’t notice it at a glance but look closely at the new ACR’s body and you’ll spy small aerodynamic devices designed to pin the car onto the road surface.

There’s a new deep front splitter and an adjustable rear wing, plus the bodywork has been redesigned to make the air flow more efficiently over the car’s curves. Together they create more than 1,000lb of downforce at 150mph - 10 times more than in the standard Viper - which translates into better grip.

There is also a reworked chassis and new lightweight, racing-car-derived KW suspension, while the super-lightweight Sidewinder wheels are shod with sticky Michelin Pilot Sport Cup tyres that wouldn’t look out of place on a Formula One car.

The massive brakes are lightweight too and save 15lb per wheel, making the car more responsive and easier to turn. Try going for a run in a pair of Dr Martens boots then switching to Nike trainers, and you’ll quickly get the drift.

With a hunch that they were onto something with their lightweight theme, the SRT engineers then dreamt up the optional “hard core” package.

This does away with the stereo system, all sound insulation, carpeting in the boot and the emergency tyre pump. What it adds are carbon fibre door panels and a lap timer; what it takes away is a further 40lb of weight.

The engine is pretty much untouched. Quite right too. The V10 isn’t one of the smoothest or most fantastic-sounding engines in the world, but you can’t argue with its 600bhp. So the only change in the powertrain is the new six-speed transmission.

When you are driving the ACR, it is the sound that really assaults the senses. The engine noise makes it seem as though the V10 is sitting in the seat next to you. At tickover it sounds lazy and unobtrusive, as though it’s firing cylinders only every other day. Put your foot down, and you’ll soon be wishing you’d brought some earplugs.

The car doesn’t feel that fast at first, the engine gathering speed rather than soaring up to the red line, but that is deceiving. Snatch a couple of gears, give it some welly and you quickly find yourself way on the wrong side of 100mph without trying.

That’s fine in a straight line; not so much when that first corner looms. You tell yourself this is a racer, that it’s been designed to slice through corners, but in the back of your mind there’s a nagging doubt because you are steering something that feels the size of an oil tanker. Surely it can’t be up to it - can it?

Then, suddenly, you’re in the middle of that first curve and the ACR is turning in, sticking and hurling you out towards the next one like a car half its size. Go a bit faster and it gets even better.

It’s not just the speed. It’s the overall package: get it into the race zone and all the aerodynamics, suspension, brakes and tyres blur together to create a car you could drive to the track, win a race in and then drive home again.

As Dodge’s mission with the ACR was to create exactly that kind of car, it can only be described as a huge success. Particularly as, like Dodge, I’ve been saving the best until last: in the States the Viper SRT10 ACR costs just $98,110 (£54,900). Compared with its Lamborghini Gallardo Superleggera rival, at that price you could import a pair and still have change left over.

- Aerodynamic modifications, including an adjustable rear wing, allow the ACR to generate 1,000lb of downforce at 150mph - more than 10 times that of the standard Viper

- In keeping with its track-racer role, the ACR has an optional “hard core” trim package that removes all nonessentials - including sound insulation

- Race-proved suspension and brakes, lightweight wheels and sticky semi-slick tyres mean drivers lose their bottle before the car loses grip

Hot Wheels specs

MODEL Dodge Viper SRT10 ACR
ENGINE 8400cc, 10 cylinders
POWER 600bhp @ 6100rpm
TORQUE 560lb ft @ 5000rpm
TRANSMISSION Six-speed manual n/a
FUEL/CO2
ACCELERATION 0-60mph: 3.2sec
TOP SPEED 203mph
PRICE £54,900
ROAD TAX BAND G (£400 a year)
VERDICT Dodge saved the best until last