I sold the car a few years ago to a friend with only 60K on it. He still has it and I see it every day at work. I think it only has about 75K on it now. No major issues yet. The most I ever hear going bad on them is the opti-spark ignition and the fuel pumps. Good preventitive maintenance is also a plus.
Opti-spark issues is the main flaw, but I understand the aftermarket has some excellent alternatives. Opti-spark is a pain to get to since it's on the front of the engine and behind the water pump. Otherwise the LT1 is an excellent engine.
I sold my 95 TA with 140K in it still running strong. Only problems I ever had with it was the water pump going out at 50K and a freeze plug around 110K. It was my daily driver and got me everywhere I needed to go. I was one of the lucky ones and never had a problem with the opti.
As others said, preventave maintence is key. You take care of it, it will take care of you. I got the car with 36K so it was well taken care of from that point on.
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