Our 2011 Mustang V6 is only 227 ci, makes 305 hp at 6500 rpms, and 285 lbs ft at 4250, N/A and still gets 30 mpg per tank on my wife's commute. I believe that the barriers between power , efficiency, and emissions are not mutually exclusive. A V8 of 250 ci could easily do the same thing and and probably make 350 hp with the same degree of aplomb without forced induction. The 6R80 is a combination Simpson/Ravigneaux transmission that is highly efficient, and the fuel and timing systems are becoming so sophisticated that they can achieve power and mileage combinations that only Ray Bradbury could have dreamed of in the 1950's.
I don't believe that the need for performance will ever die.