| First Drive | Knockhill, Scotland | Lamborghini Gallardo LP 550-2 Valentino Balboni |

This is the rear-wheel drive only Gallardo enthusiasts have been waiting for and it comes as the retirement gift to Lamborghini's cult test driver Valentino Balboni.

In the Metal

This limited edition Lamborghini Gallardo is easily spotted thanks to its unique white and gold stripe that runs the length of the car. There are also painted brake callipers offered in black, orange or yellow, which grip carbon ceramic brake discs peeking out from 19-inch alloy wheels finished in grey. With a choice of eight body colours, the 250 Valentino Balboni edition models stand out from the crowd, while a transparent engine cover lets all and sundry see where the engine noise is coming from.

Inside, the VB has black leather seats with a white stripe down the centre. The centre console is also decked out in white leather, which sounds gaudy but looks great. The VB comes with a six-speed manual gearbox as standard, which brings with it the classic aluminium open gate for slotting the alloy lever through. For us, the manual gearbox is the one to go for to have this detail alone.

What you get for your Money

It's more a case of what you don't get for your money with the 550-2 Valentino Balboni. Anyone familiar with Lambo's current nomenclature will have sussed the VB has a 550PS (542bhp) version of the Gallardo's 5.2-litre V10 engine, which is mounted mid-ships. This is 10bhp down on the standard Gallardo 560-4's power output, but Lamborghini hasn't gone soft. Oh no, it has just found a different way to make the Gallardo a harder, faster machine, which is to drop the four-wheel drive system and revert back to its old tricks of rear-wheel drive.

In switching the VB to rear-drive, Lamborghini has shed 100kg from its limited edition Gallardo. Along with the transmission, Lambo's engineers have also reworked the suspension, tyres and aerodynamics to make the most of the rear-wheel drive configuration. A limited slip differential works with re-jigged ESP to allow greater degrees of wheel slip and sideways action before the stability controls reins things in, permitting drifts angles up to 45-degrees with the Corsa programme engaged.

Otherwise, the VB is kitted out in much the same way as any other Gallardo, with climate control, CD stereo, four airbags and leather upholstery. For this, you pay £163,245, which is a reasonable £18,000 more than for a standard Gallardo LP 560-4 Coupé.

Driving it

In changing to rear-wheel drive, Lamborghini has wrought two major changes on the Gallardo. The first is a subtle alteration in steering feel, with the VB enjoying a more natural, fluid sensation through its steering wheel. Where the 560-4 can experience a slight tug at the helm as the front wheels do their job of pulling the car into, through and out of a corner, the 550-2 has no such corruption to its steering. Coupled to the 100kg weight loss, it really does make the VB feel much lighter on its feet and more agile, even in the streaming wet conditions we tried the car. Given the weather, this hardcore Gallardo felt nimbler yet never did it become flighty or edgy. Instead, it was stable, precise and a joy to be driving.

The other big change with the switch to rear-wheel drive is the way the 550-2 accelerates out of corners. With 542bhp tamed by only one axle - albeit with a 45 percent limited slip differential helping out - the driver cannot afford to be heavy handed. The VB may be very stable, but that's still a lot of poke to control. The broad 295/30 ZR19 Pirelli tyres do a sound job of coping, but caution is still needed to avoid the back end becoming unsettled by a clumsy throttle foot.

In faster corners, the 550-2 is completely tuned into the road surface, helped by suspension that is firm yet still yields enough for decent comfort. Away from tighter turns, the driver can also fully deploy the 542bhp from the 5.2-litre V10 engine and revel in the how it sounds as revs rise beyond 4,000rpm and head on to peak power at 8,000rpm. From a standstill, the Gallardo LP 550-2 Valentino Balboni covers 0-62mph in 3.9 seconds and top speed is 199mph, so this motor sits alongside the best in the world for 'get up and go'.

Worth Noting

The carbon ceramic brakes of the VB limited edition are like most other road cars equipped with such stoppers. They need some heat to give their best, so tootling to the shops is not a great showcase for them. Lean hard on the middle pedal during a track day, however, and the VB will haul you down from great speed with superior confidence time and again. On our rain-sodden test, the brakes needed longer than we'd have liked to warm through, which meant a slightly soft brake pedal at first, but once up to temperature they were steadfast.

Summary

Valentino Balboni is a very lucky man. Not only has he spent the past 42 years honing Lamborghinis, he's now got the best iteration of the Gallardo named after him. With its sublime balance, acceleration, super strong brakes and, of course, incredible rarity all on its side, the LP 550-2 Valentino Balboni is the Gallardo for aficionados, which is just how its namesake wanted it.