The fenders curve upwards to the wing mirrors, whose brand-new twin-stalk design helps with the engine cooling, thanks to amazing wind-tunnel research. A glass cover stops people drooling on the engine, and the tail reminds me of the unattainable Enzo, with a quartet of round lights resting on the top edge, rather like a salvo of rockets ready for launch.

On paper, the F430 has near identical dimensions to its predecessor, the 360 Modena, only the bodywork is about 3cm longer. The F430 looks meaner on hunched flanks and more poised on larger 19-inch, 10-spoked star alloys. Optical fibre-like parking lights surround the new multi-lensed xenon light units and complete the hi-tech visage. Aerodynamic tweaks are subtle, but keep the car firmly planted on long sweeping corners.

But the F430 is all about presence. People crick their necks to steal a glance as the F430 slips effortlessly through traffic on a slick mixture of envy and respect. The cabin is familiar, the dashboard is nearly identical, but the steering now has two small pods, with the 'engine start' button and the manettino. The pedals are well-spaced, with an aluminium plate to stop scuffing on the intruding wheel-well.

The aircon copes well with Hong Kong's heat and humidity, but its controls are mounted, with the stereo's, on the most hideous carbon-fibre central console. Although the driving position is easily perfected with the freely adjustable steering, the electric seats feel awkward. The side cushions tickle my sides but lack lower back and shoulder support, and the seat is too narrow for me. But you could opt for racing bucket seats and, maybe, a four-point harness. The all-new 4.3-litre V8 engine blasts a storming 490 brakehorsepower at it's stratospheric 8,500rpm redline, equating to a nuclear 114bhp per naturally aspirated litre. This 22 per cent rise in power is matched only by an even more incredible 25 per cent growth in torque (465Nm vs 373Nm) over the Modena. Carrying 40kg less on its shoulders, the performance is bound to be phenomenal.

The phenomenon is controlled by the manettino - a gem machined from aluminium. Sitting in one pod off the steering boss, it discreetly displays it's detonating potential in five stages: snowflake, squiggly, sport, race, and control for stability and traction (CST). Without referring to each function in turn, imagine a volume knob, which increases the madness with each clockwise click.

In 'sport', the car is supple over urban roads and the gear-changing is gentle enough for the commute. Even spirited bursts in town are easily coped with. 'Race' is more fun, as the electronic throttle becomes much more sensitive, the cog-swapping more urgent, and the suspension tightens up, so you can unleash the power with confidence. With the engine management turned up a notch, even the exhaust gains an edgier rasp, in tune with the added performance. At five-tenths, the front will gently understeer with a whispering from the Bridgestone RE050s. Here, you can either back off or put some more power down in a controlled four-wheel drift, the CST and the electronic differential partnering you in criminal levels of motoring abandon. Swinging the rear-end out for additional drama would require dollops of insanity and run-off areas larger than our beaches.

Tackling near-empty roads around Hong Kong Island, the car proves two things: it's way too good for me; and it's way too good for here. The F430 and I work together as we assault corners, ride camber changes and adjust radius, with all my limbs working overtime. We slice into apexes with an eye on the exit, balancing the power with generous left-foot braking and gentle squeezes on the hair-trigger throttle. The 43:57 front-rear weight distribution perfectly matches this missile, which has now transformed into an extension of my body.

I'm nearing my limits, but the car is in its stride, deliciously chewing kilometres off the test route. As the speeds increase, the car just gets better - the aerodynamics glue it to the road, amplifying feedback and my confidence - I can't tell you how fast I was going now, other than that I was pressing on solely by telepathy, scenery blurring with the engine revs in my ears before I snatched another up-shift.

Ceramic composite brakes larger than LP records repeatedly slow the car from triple-digit velocities over a couple of hours, without a single disappointment. As computers automatically blip the throttle, the F430 could be mistaken for a travelling firing range, with each crack and pop from the maniacal exhaust. Stacking gears on the way down with double-clicks of the 'down' paddle makes the braking even more effective, and the music is addictive.

This is also why driving this car in Hong Kong is so frustrating - after a few moments of real driving, the road system punishes the car with traffic jams, bullying minibus drivers, haphazard road works, and 'scameras' along the few stretches of clear road.

The F430 is thoroughly capable and enjoyable to drive, yet the lucky owners won't get a chance to use even one-quarter of its potential most of the time. A caged lion in a circus, it's really a track car artificially confined to the urban jungle of Hong Kong. But it's great to know what this car can do. With this latest offering from the Italian marque - passion, lust, power, speed, beauty, fire and soul can be contained in three syllables.

At a glance

What drives it? A new 490bhp, 4,308cc V8 engine with a manual or paddle-shift six-speed gearbox on 19-inch wheels.

How fast is it? Very, with a top speed of more than 313km/h; 0-100km/h in four seconds.

How thirsty is it? 3.72km per litre in town on a 95-litre tank, emitting 420g/km of CO2.

Available: $2.73 million at Italian Motors (tel: 2365 0269). If you order one tomorrow, you can drive it in the latter half of 2007, the dealers say.