Ferrari's 2009 California, with its front-mounted V8 engine and folding hardtop, excited buyers so much that it dropped sales of the superlative F430 in the toilet, as the rich and shameless were enticed by something new from the house of the Prancing Horse. The all-new 458 Italia is designed to win back the hearts and minds of those Ferrari aficionados who went elsewhere for their high-power jones.

Lower, sleeker, more powerful than the California and as nimble as a gazelle, the 458 Italia is simply a spectacular supercar. And its body, which was shaped by Pininfarina, is fabulous; in fact, it's unique for a Prancing Horse and impressive from any angle. The 458 employs the same direct-injected V8 as the California, but ups the power from 460 horses to an impressive 562. And based on our driving impressions, it bests even the vaunted F430 on the track.

Inside, it also gets better instrumentation and improved ergonomics. While the cost of these upgrades won't be announced for a few months, the first 458s will arrive stateside sometime in June 2010. However, expect at least a 10 percent premium over the 430, which will probably put the cost of the 458 around $210,000.

Model Lineup
The Italia is packed full of clever, well-thought-out details, making it a very different beast than the F430 it replaces. For instance, the traditional massive air intakes behind the doors are gone, leaving an expanse of contoured bodywork in its place, which gives it a complete character makeover.

Air intakes are now hidden behind the small triangular windows and doors; additional inlets around the headlights reduce air pressure within the wheel wells. And the small winglets in the very front deform at speed to redirect air beneath the car instead of to the radiators.

The 458 also gets the Getrag double-clutch transmission (the same one found in the California and Mercedes SLS), which promises all that the paddle shift offered in the F430 F1, but with 2010 levels of sophistication.

Right off the assembly line, this is a well-equipped machine. But, as one might expect, Ferrari offers plenty of personalization options so you can mod it any way you want.

Under the Hood
It's only when you hear about the technology used to build this V8 that you realize why a Ferrari is both so desirable and so expensive to build. For example, its 562 horsepower is reached at 9000 rpm, by which time the internal stresses within the engine are simply staggering. Ferrari was able to relieve the pressure beneath the pistons through the use of a displacement pump. Nice touch.

Despite the impressive engineering, it's the crackle-red twin-cam covers that will garner the most attention. One can't help but gawk through the engine bay's slick Plexiglas cover, which is located behind the rear seats. One look and there's no doubt that this car is something special.

We won't mourn the passing of Ferrari's F1 transmission, either. With paddles and electronically controlled gear selection, yes, it aped the F1 car. But the Italia's Getrag transmission, which was first loaded into Audi models, delivers great manual changes plus a decent auto function. It's more efficient and, coupled with just short of 400 lb-ft of torque at 6000 rpm, fuel economy is improved. Ferrari is playing a bit fast and loose with the numbers at the moment, however. But there is a suggestion that 17.7 mpg is feasible — if you drive it like a Fiat, that is.

Inner Space
The steps taken inside the Italia are as radically different as the external changes. Those familiar, round air vents have disappeared, replaced by deep-drawn aluminum castings, and all of the instrument focus is directed toward the driver.

There is, it has to be said, something of an overload here. The centrally mounted rev-counter incorporating the gear indicator is traditional Ferrari. To the left and right are thin-film transistor screens that can be changed at whim.

However, too many functions are built into the 458 Italia's leather-trimmed steering wheel. Even if you ignore the shifter paddles, the steering wheel also incorporates the start button, Manettino switch, lights, indicators, wipers, washers, horn, stereo and possibly more. Functional, yes, but a tech overload compared with a traditional, simple Ferrari wheel.

Even so, it is comfortable to hold, complementing the beautifully crafted seats. The only complaint is that if you push the Ferrari hard, you might want more lateral support from the backrest. But it's something you'll be able to specify as an upgrade when you order.

Luggage space is surprisingly good, but — my oh my — how vulnerable to dents that 1-millimeter-thick hood feels as you latch it back down.

On the Road
Okay, you already know a Ferrari is going to be stupendously quick, but this fast? I don't think so. In town traffic, you can pick the auto mode for the transmission and the 458 Italia drives really well. This Ferrari is so much smoother with the double-clutch gearbox than previous models with the F1 robotized manual transmission. It's just a bit jerky on light throttle settings, though you soon learn to drive around this using the steering-wheel-mounted shift paddles. They allowed us to thump through the seven gear changes at lightning speed. And the sound was simply intoxicating from the driver's seat and better still outside, where the wup-wup-wup from the exhaust sounds very close to the track-ready F1 Ferrari.

As we said earlier, the full 562 prancing ponies aren't reached until 9000 rpm, which is a bit extreme. The reality is you'll rarely have the need to reach this lofty number on the road. There's good reason. Short gearing and immense thrust mean that changes at 6000 to 7000 rpm usually provide all the performance you could ask for.