Well, it depends on what aspect of handling you're looking at. The problem with saying good handling is that it's rather loose, because there are so many aspects to handling.
The skidpad is basically pure tire grip. Suspension design isn't a huge issue here, and neither is the weight of the car. The slalom, on the other hand, measures the car's ability to change directions (which is, in most cases, what handling is about). It has more of an application in real life because sudden steering movements are part of driving, and also what separates good-handling cars from average cars. A car with a high skidpad figure but a low slalom number means that it can corner very well if driven very smoothly, but if you were to do a sudden steering motion, it is likely to spin out.
As far as weight goes, heavier cars do generally tend to handle worse, but there are plenty of cars which are heavier than a Camaro and do handle better. For example, there's the M5, Diablo, 550 Maranello, Supra, and 3000GT to name a few.