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I've been deliberating that myself for the paint on my 80.If stuff quits breaking long enough for me to paint it black would look nice if it was done right,but I think the Corvette Yellow they featured on the 80 sales brochure is what I'd pick.I have a doeskin interior so either would look sweet.
MrKln did his C5 in a Lamborghini color, Pearl Metallic Orange. I cannot find the pic right now but they had a GORGEOUS Pearl Metallic YELLOW as well!! Think Murcielago (sp?) and that gorgeous yellow, that is the ticket!!
I have both and yellow is waaay easier to look after. I do think black has more attitude though. If you want that don't mess with me look go black but you will pay for it in how hot the car gets and like everyone says it shows everything.
personally i dont like black on vettes. My first choice is red, but if its a decision between yellow and black?, definitely go with yellow. Try some black accenting, like black hood scoop or black coming out of the fender scoops. Good luck.