Alright Ill clarrify some things,
The Cobalt wont beat any V8 Fbody over 94/95.
The Camaro and Firebird share the same parts, the Z28 is what the Formula is, no real body changes, just the drivetrain and suspension, the SS and WS6 are a bit different but the same in that they are basically the same packages, but the WS6 was offered direct through GM, the SS was an aftermarket SLP package that dealers used. The Firehawk was the upgrade to the firebird that SLP also did.
The LS1 fbodies have lots of variances in time, mostly due to the variances in what people consider "stock" some consider runnign 104 octane with an iced filter, on cheater tires stock...others do not. But they can range from 12.9-13.7 on both extremes, with the average being 13.4-13.6.
The LT1 fbody is a bit more consistant, with times from 13.6-14.1. So a Cobalt may be able to sneak up on a early convertible Z28, but won't come near an 02 SS coupe.
I believe the Cobalt could hit a solid low-mid 14, and with minor mods be in the LT1 territory, but it would take a good amount to catch an LS1, especially since the power band of the LS1 and the LSJ are more similar than the LT1 and the LSJ. The LT1 makes more power at lower RPM, where the LS1 was designed to make the most power in the higher RPM. My '79 Trans am would run dead even with my friends 02 Corvette untill he hit about 80MPH where he would walk past me when I shifted to 5th. (my ta dynoed at 270RWHP/360RWTQ with a slipping clutch, which is a lesson to anyone, test your car before you pay to dyno it)