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If you liked the LT1, you'll love the LT4. And in fact it has one less thing to worry about than the LT1: it has no EGR system because the extra cam overlap made it unnecessary.
This is not specific to the LT4, but all 1996 C4s (LT1 and LT4 alike) have a fully enabled OBD2 system. If you plan to do mods and then recalibrate/reflash the PCM, you need different and more expensive software for any 96. If you're keeping it stock, that's not a problem. And depending on the emissions inspection laws where you live, you may be required to have a 96 emissions tested whereas earlier non-OBD2 cars are not required. That's a requirement in the county where I live, but those rules are all over the map around the country. Anyway, if you've ever owned a 96 LT1 car, you've had the same system and emissions requirements.
Actually, you can get quite a bit with a hot cam and long tube headers. On a engine dyno, they have been documented at 429hp.
What I meant was a person can get a bit by putting in a Hot Cam and NOT having to do a tune. The computer will handle it. Once you go to headers, I am not so sure if it has the brains to accomodate them.