if you have altered your tire sizes vs front to back this can also allow you to spin out or severly warn tires due to diameter can make the whole thing un reliable.

It's called ABLS, basically an electronic LSD, be it not a great one. There is no one driving the car other than the nut behind the wheel. The 350z feels faster, but it is nowhere as fast as the 370 in both straight line and braking. Given the 370z has more power, more tires, more wheels, more brakes, what do you expect the weight to be?

OP: Yes, you can lose control even with the VDC on and here's why. The rotation of the tires in relation to each other and at various states of the input sensors determines when certain safety systems are activated. I am not aware of the 370Z containing any sort of inertial measurement instruments so we can throw that out unless someone has data to support such a system.

Theoretically the car's safety systems will not engage if all four tires are rotating at the same speed and you are not pushing the brakes. This situation can happen if you are hydroplaning, sliding on ice or oil, or possibly going airborne. I personally have had my car slightly drifting out of a turn where I hit some gravel in the road and the back end went out a good 15-20 degrees then came back in smoothly with out the traction control ever engaging. I am sure that I would have spun out had I been carrying more speed.
:driving:

VDC is off for the most part though. Only time it will cut in is if you are trying to drift.

I was coming around a 90 degree turn from a stop and added power to see if the VDC would kickin fast enough, NO was the answer, rear loose 20 degrees off center. VDC on roads were wet. light rain.

VDC seems to look at the throttle setting too much, if you are at anything less than WOT it will let the car spin ALOT before it starts going anything. If you have more power at lower throttle setting, AKA supercharger/turbo or a butt load of bolt-ons, you can get into a world of trouble before it cuts in.

Mine seems to cut in pretty easy. The other day leaving the self carwash, I needed to cut across lanes of traffic, to get into my direction lane. When I accelerated quickly while slight turning to the left (tires where still a little wet), I could feel the rear starting to let loose. The VDC light came on, slight power cut, and the car snapped back to center.

Its more difficult to lose control with it on but of course you can lose control. All systems have a limit to what they can handle.