Based on published numbers, the performance is very similar to the TTA 0-60 and a little faster in the quarter mile. The ZR-1 continues to pull hard up to a top speed of around 185. I am told updating the rear gear ratio to 4:10 will easily put the ZR-1 in the low 12's in the quarter while only adding about 300 RPM in 6th. The gearing is definitely setup for economy - it will easily pull 55 in first gear as it approaches the 7,000 RPM redline. I think the TTA overdrive in 4th is around .7 - the Z is .7 in 5th and .49 in 6th which means you really don't use 6th unless you are over 50 MPH. The secondary intake runners and fuel injectors don't open until around 3,500 RPM and it doesn't hit the torque peak until around 5,000 RPM. 5,000 - 7,000 RPM is quite enjoyable and loud as well.
Weight wise I think the Z is actually a little heavier than the TTA due to the quad OHC engine and wider rear end to accommodate the 315 tires. Even though the 4th generation Corvette pre-dates the 3rd generation F-body, Chevy evolved the platform quite a bit over the long production run. The Z handles like a slot car while the electronic suspension still gives it a very good ride. It is quite easy to slam your passengers head into the side glass if they are not paying attention. The brakes on the Z are also much better.
The TTA was in the price range of a base Corvette when it was new, was much faster, and had a back seat. The "ZR-1 Special Performance Package" on the '94 was $31,258 bringing the total sticker price to $68,643. Put another way, the ZR-1 package was about as much as a new TTA over the cost of a base Vette!
Both cars are very different and incredible in their own ways! I feel very lucky to be able to have one of each.