Chevrolet Corvette ZR-1 (© General Motors)

Chevrolet Corvette ZR-1

Can you have a car that is both powerful and fuel-efficient? Big horsepower and lousy gas mileage have gone together in the automotive world like peanut butter and jelly for so long that most people would answer that question by saying, "Hell, no!" However, the two traits are no longer mutually exclusive.

It's true. Computerized engine controls, more efficient transmissions and advanced engine designs have blessed current performance vehicles with a combination of power and gas mileage that was unheard of only a decade ago. In fact, many modern powerplants possess almost three times the gas mileage of classic muscle-bound engines.

To highlight this happy state of affairs, here are 10 cars with the best mix of power and gas mileage sold today. Don't get us wrong — none of these speed demons gets spectacular fuel mileage. But if you lust for a machine that can go like a bat out of hell and not drain your bank account while doing it, these beasts are the best options.

View Pictures:  Powerfully Efficient Cars

1. Dodge Viper

Horsepower: 600 ● mpg: 22

Every schoolboy dreams of the Viper's V10 engine with 600 horsepower, but who'd guess it was powerfully efficient? A low-slung 2-seater, the Viper is relatively lightweight without excess frontal area. That means the giant 8.4-liter engine doesn't need to do much more than idle to whisk the Viper along at legal freeway speeds. The result is a passable 22 mpg highway cruise, backed up by the ability to deliver 200 mph thrust, if desired. If ever there was an argument for large-displacement, slow-revving engines for economy, the Viper is it.

Video: 2010 Dodge Viper

2. Chevrolet Corvette ZR-1

Click to enlarge pictureChevrolet Corvette ZR1 (© General Motors)

Chevrolet Corvette ZR1

Horsepower: 638 ● mpg: 20

Supercharging usually isn't very fuel-efficient, but don't tell that to the ZR-1's boosted 6.2-liter V8 engine. Yes, fuel economy drops from 26 mpg to just 20 mpg compared with the naturally aspirated standard Corvette, but the ZR-1's extra 208 horses make up for it. In the real world of mundane freeway cruising, the belt-driven supercharger extracts a mileage toll compared with the nearly-as-powerful Dodge Viper, but we don't think buyers of the $108,180 super-Corvette will really mind. Revered as one of the most powerful production sports cars sold today, the ZR-1 offers the solace of a 205 mph top speed.

Compare: Chevrolet Corvette ZR-1 vs. Porsche 911 Carrera 4S Cabriolet vs. Audi R8 4.2 Coupe quattro

3. Ford Shelby GT500

Click to enlarge pictureFord Shelby GT500 (© Ford Motor Company)

Ford Shelby GT500

Horsepower: 540 ● mpg: 22

Here's another supercharged surprise. Using a belt-driven supercharger similar to the ZR-1's, Ford's headlining Shelby Mustang employs a smaller-displacement 5.4-liter V8 engine than the ZR-1 to wring out another two mpg. A larger, heavier 4-seater, the GT500 is also not as aerodynamically sleek as the Corvette, which lowers its efficiency. Coming to the rescue is the GT500's excellent power per displacement, an even 100 horsepower per liter. Furthermore, for 2011 the GT500 gains an aluminum block and thus loses significant weight while gaining 10 horsepower.

View Pictures:  Powerfully Efficient

4. Chevrolet Corvette

Click to enlarge pictureChevrolet Corvette Coupe (© General Motors)

Chevrolet Corvette Coupe

Horsepower: 435 ● mpg: 26

Compared with the first three examples of powerful efficiency, the Corvette doesn't really punch above its weight class. But it does deliver great highway mileage. Many everyday commuter cars would be proud to achieve 26 mpg, much less pack 435 horsepower. Positives for the Corvette are better-than-average aerodynamics and a reasonable weight. But the real secret to its success is low-rpm cruising from a relatively large-displacement engine and 6-speed transmission. The Corvette is where the performance and efficiency curves intersect to the best effect.

Expert Review: 2010 Chevrolet Corvette

5. Ford Mustang GT

Horsepower: 412 ● mpg: 26

Posting a little less power but offering the same mileage as the Corvette, the 2011 Mustang GT nips at the Corvette's rear bumper for thousands of dollars less. The new 5.0-liter Mustang V8 engine makes efficiency the old-fashioned way: Eschewing a heavy, power-sapping supercharger, the naturally aspirated V8 revs like a soprano when making power, then slumbers along at cruising speed. Not yet fitted with direct fuel injection, the V8 still has a few power and efficiency tricks up its sleeve should the market demand it.

Video: 2010 Ford Mustang