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A follow up here:
Followup: Hyundai RWD V8 coupe to debut in 2008
Hundai claims there will be no V8 variant. This Hyundai is built on the upcoming big Hyundai sedan called the "Genesis" platform. The Genesis vehicles will be offered with a V8. So in my opionion, it's llikely that the new Tiburon will eventually see one as an option. Looks like Hyundai is trying to throw off the scent.
What I've read so far, the new upcoming Tiburon is heavy. And is basically a sheep in wolf's clothing, being that its a dressed up, passenger car. V8 or not, I doubt Mustang owners really have much to fear for some time.
Looks like a lot of copy cat styling from Hyundai yet again.