How quickly legends are built. The 911 GT3 has firmly established itself as the aspirational road and track model in Porsche's line up, yet it's hard to believe the model designation first saw the light of day as recently as 1999. At that time, the badge was attached to the 911 generation that Porsche enthusiasts call the 996. Now there's a completely revised 997 version of the Porsche 911 available and the GT3 version of this was first shown at the 2006 Geneva Auto Salon provoking a rush of orders to Porsche dealers across the globe.

It's not hard to see why. One look at the show car will be enough for many. Finished in the current hue du jour, brilliant white, the GT3 is a stunning shape - reverting to the cleaner silhouette of earlier 911s albeit with a few giveaway clues. A deep front valance and an intake at the front of the bonnet give the GT3 a more aggressive look than the slightly softer-edged Turbo model that was unveiled at the same time. The rear spoiler continues to be a dual-planed item that has also become something of a GT3 trademark. The upper wing element has an adjustable angle of incidence, while the lower plane comes into effect at more moderate speeds. Take a close look at the lower wing section and you'll spot a small 'Gurney flap' on the trailing edge, a device much beloved by Formula 1 designers as it adds a proportionally large amount of downforce for very little gain in drag.

The brilliance in the design of the GT3 is that it marries two very different requirements. Driving on a race track imposes a unique set of demands on a car. If this 911 was optimised purely for race track use it would have fewer creature comforts, run lower, have far harsher suspension and even more aggressive brakes. The GT3 isn't a pure track weapon though. It can be transformed into one by enthusiasts or they can wait to see if Porsche will bring out an even more focused GT3 RS model as they did with the 996 series, but the essence of the GT3 is that it is a very elegant compromise. Despite Porsche claiming that GT3 stands for purer, unadulterated driving pleasure, this is a car that has been modified to take into account the fact that many will get just as much pleasure driving the car to and from a race circuit as they will drifting it round the track.

"The 911 GT3 rewrites the rule book on what a rear engined car with a normally aspirated engine should be capable of"

The key to this is Porsche Active Suspension Management, a system that makes this GT3 far more versatile than its predecessor. This basically offers two chassis settings in one car. The basic configuration apes the settings of the old GT3, offering a firm but not totally unyielding ride. Switch the PASM system to Sport mode and the dampers instantly firm up. Do this on typically bumpy British roads and you'll soon be booking an appointment with either an osteopath, a dentist or a panel beater. On the smooth curves of a race track, it's near perfect.

Power comes courtesy of a 3.6-litre flat-six engine that develops a heady 415bhp. That grille at the front isn't just a styling contrivance, instead directing air at an additional central radiator required to cope with the high thermal loads this engine produces. Remember that this is a normally-aspirated powerplant, yet it comes within 5bhp of the old 911 Turbo's power output. Statisticians, anoraks and people like me will be impressed by the fact that this powerplant develops a specific output of 115.3bhp per litre. It reaches peak power at a heady 7,600rpm and will keep on revving to an 8,400rpm redline. Low end torque is helped by the Variocam system with bigger throttle valves, optimised cylinder heads and an exhaust system with reduced back pressure.

The gearbox is different to the standard 911 Carrera item with a revised six-speed shift offering ultra-short lever travel and lower ratios on gears two through six. This helps improve acceleration still further. A change-up light on the rev counter prompts the GT3 driver to grab the next gear and, if done perfectly, the GT3 should be capable of getting to 62mph in 4.3 seconds and 100mph in a mere 8.7. Its quoted top speed is 194mph which will be more than enough for most.

Unlike the 911 Turbo, the GT3 is rear-wheel drive and transmitting all that power to the tarmac is quite a job even when you have 305/30 19 tyres at the back. It borrows and adapts the electronic traction control system from the Carrera GT hypercar but you'll search in vain for Porsche's amazing PSM stability control system. The Weissach manufacturer deems that a little too much of a comfort blanket to fit to a car like the GT3. Even the traction control can be switched off if you feel the need.

The nineteen-inch alloy wheels have been designed to reduce unsprung weight, that age-old enemy of agility, as much as possible. The wheels have been designed with very low profile rims for huge brake assemblies to fit within them and the rear wheels have been spaced out by another 5mm each side to give the car a wider rear track. Awesomely powerful brakes have become something of a Porsche trademark and the GT3 doesn't disappoint with red-painted calipers featuring six-pistons up front and four at the rear. Also available to well-heeled customers as an option are Porsche's ceramic composite brake discs (PCCB). These discs offer slightly improved braking performance over steel rotors, the biggest gains coming in weight saving at each corner of the car.

To some, compromise remains a dirty word. One look at Porsche's 911 GT3 may well be enough to convince them otherwise. A car as at home on the road as it is on a race circuit is no small undertaking. Never let it be said that Porsche don't aim high.