The most anticipated Melbourne Motor Show unveiling? We think so.

While it is already gracing the streets and tracks in Japan and the US, Aussie Zed enthusiasts have had to wait until today to see the latest version of their icon in the metal. Let me tell you, it looks super.

The 370Z uses a 248kW version of Nissan’s 3.7-litre VQ37VHR engine. That’s 18kW (24hp) more than the current 350Z, 78kW (104hp) more than a Mazda RX-8, 31kW (41hp) more than a Porsche Cayman S and - gasp - 9kW (12hp) more than a 911 Carrera.

However, Australian Z buyers will only be able to opt for the one spec level, which will feature a satellite navigation system, Bluetooth connectivity and a luxury spec interior, but misses out on the lightweight forged 19-inch wheels offered on US and Japanese-market Zeds.

Still, Aussie 370Zs get the bigger and stronger 4-piston front and 2-piston rear brake calipers that are optional extras overseas, as well as a traction-promoting viscous limited-slip differential. With all that heavy-duty kit included as standard, the all-new Z34 should be an ideal platform for those looking to spend some time on the racetrack.

The 370Z is due to hit Nissan showrooms around Australia mid-year, around the same time that the brand’s hero car – the Nissan GT-R – will make its sales debut down under. The six-speed manual with SynchroRev Match will retail for $67,990 while the seven-speed tiptronic auto will set you back $70,990 before on-road costs.

GALLERY » 2009 MIMS - NISSAN 370Z