Saturn offers a stage II kit for the Redline Ion that consists of 4 injectors, an ecu reflash, a smaller pulley, and a new belt which brings it up to 246hp.  This costs just under $1k for the parts (I know this because I work in a Saturn parts department).  It's not much of a stretch to think that you could get a further 40hp from that like they are claiming, especially once you put all the stickers in.  Something to think about:  The driver was holding the camera, so who was shifting?  Probably an automatic.  I suspect the Z was an NA auto car, which = super sluggish.