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I don't want to re-type the whole thing here, especially since the question is a better fit for the "Wheels & Tires" section. It's about front "skinnines" on a C3: http://forums.corvetteforum.com/zerothread?id=345192
If you have never driven a car with skinny's and rear slicks it's whole new experience in driving.
I would go with the 5.5 for safety because your car is heavy. You should ask Centerline for what BS is offered. But generally it's going to be near the center of the wheel.
Before you go racing test the brakes in an emergency panic situation. You might need to get smaller light weight front rotors. So the back locks first. I've been down the track a bunch of times in a 8 second Camero and it just doesn't give me a good feeling after you let off the gas after the quarter mile
I've done the ET Street thing on the rear and am familiar with the "Big End Hula." :lol: That can be unnerving the first time it happens--gotta be careful with steering input. I'll check in with Center Line.