Interesting move. I drove one and was pretty impressed. The handling seemed very good, the engine was torqey, and the build quality was the best that I've seen from a GM compact. Like the article says, I wonder if they're going to put the turbo engine from the Sky/Solstice in there, ore they're giving up on a quick Cobalt?
http://www.autoblog.com/2007/06/04/chevy-cancels-cobalt-ss-supercharged-for-2008/
http://www.autoblog.com/2007/06/04/chevy-cancels-cobalt-ss-supercharged-for-2008/