Chevy would be OK with me. Even a Chevy Fiero is better than no Fiero.
I'd like to see styling cues indicating the link to Pontiac. Maybe a huge, raised arrowhead on the hood or deck or both. Red guages, etc.
A ~200HP engine would be fine. Doesn't need a V8. This is an intro sports car. One for that college grad without a family, who can then move to a Camaro, and eventually a Corvette. Basically, a sports car line-up for the newbie, the family guy/gal, and the empty nesters.
A convertible option is required.