ok I drove the 2007 SS cobalt (worked for an autogroup @ a mazdaspeed dealer that also had chevy)...
COMPARING THEM BOTH.. Power: I wont comment on, different engine. However, the transmission I drove was sloppier in the cobalt SS and there wasnt very good clutch feedback.
now if the above post is true, and theyve fixed the wheelhop issue, great! However, if its anywhere near the original, OMG Im suprised the car didnt break in first and second under acceleration.
The overall look of the car I liked, its not bad looking. Wheels are appropriate, it has just enough of a sporty stance and if you add a nice lip spoiler and some tint (maybe a drop too

) youre set.
Interior was a different ballpark. Doors are WAY too big and heavy though I wouldnt have thought it bothered me, it does. The seats (both recaro optionals and standard) are NOT comfortable and made me feel as though it was pushing me OUT of the seat instead of hold me in. This made finding a good driving position difficult. Then, even though its better than I hoped, theres cheap plastic everywhere and the horrible timex blue center console lighting that just kills it.
the Mazdaspeed 3 (and Im not biased, I dont own one). Looks good (for most), is more practical (4 doors and a hatch anyone) and is more userfriendly (better layout, easy to drive but takes skill to drive well). The seats were AMAZING (I swear Im looking into putting them in the MSP). If youre average build, they hug you better than the SRT4 seats (neon, not caliber). The dash is sporty, materials arent hard and cold, and the red lighting adds a sportiness. Everything just feels like its assembled "tighter".
Clutch and shifter are crisp and provide feedback, power is there when you want it, and tucked away when you dont. Plus all of the safety features are standard (DSC, ABS, SAB, SAC, EBD, BA, etc. etc.) and its packaged all for roughly the same amount as the SS cobalt.
Now, I dont know how the new cobalt SS is going to drive (power delivery and feedback) but if the ergonomics are still the same, Id pass without even driving.