This is believed to be a 2009 370Z engineering mule: http://www.autoexpress.co.uk/news/autoexpressnews/209115/nissan_350z.html - the first one spotted. The engineering mule at this point has the new suspension, crossmembers, and other elements placed underneath a modified current 350Z body. A mule always hints at new dimensions, but not the new styling. Nissan typically evolves the styling of its cars in small steps, so look for the new Z to be easily recognizable and not radically different.
Look closely: it has a wider track (with wider wheel flares), larger wheels and tires, and the big 14” discs and 4-piston brakes from the 2008 G37 coupe.
Like most mules at this stage in their lifecycle, you'll also notice a roll cage inside.
Overall dimensions of the car are altered as well - look at the ill-fitting roofline over the driver's head. And note the matching cut-lines in the door panel just below. Hmmm.... the new Z is somewhat shortened! And does chopping several inches out of the current chassis simulate the weight target for the new car?
The 2009 Z will use the updated "FM" platform found under the 2007 G35 sedan and 2008 G37 coupe (note the gain in width to match the new FM). The FM platform has been considerably improved in several ways - and it finally provides the proper front and rear suspension geometry that the Z (and other early FMs) have been missing all along. You'll even be able to change the front camber - imagine that! This has been the fatal flaw in the current 350Z since the beginning for autocrossers and open track enthusiasts. The other fatal flaw has been manual transmission reliability issues. Fortunately, the transmission has been updated for the 2008 G37 coupe (going into the 2008 G35 sedan as well) and the Z will also benefit from that.
The article also alleges that the 3.7 liter engine in the Z will produce as much as 350 horsepower. There is no way to confirm that at this early time... and final calibration typically isn't done until the last minute anyway. Hopefully we'll hear more in about a year, unless the Z launches mid-2008 as an early 2009.