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The stage 1 is just a OEM type replacement, the stage 2 is somewhat of an upgrade but not racer boy crap.. Here is the gouge from the Stewart site..
Stewart Stage 1 pumps use brand new, original equipment castings that are machined to our exacting standards. Stage 1 pumps are compatible with stock lines and brackets but are internally modified for performance and reliability! Recommended for stock, OEM, or mild performance applications.
Stewart Stage 2 water pumps are assembled using the exclusive 356-T6 heat - treated aluminum casting. These pumps include several significant performance modifications, compared to Stage 1 pumps, for maximum performance. Recommended for stock, OEM, or mild-moderate racing applications.