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I'm very vaguely considering a six speed C4 Corvette purchase (of course I haven't ruled out a four speed C3 either, lol). My current '86 auto is a L98 so I'm familiar with them. I worked at a Corvette resto shop for many years so I'm actually familiar with most things early Corvette, but never really did much work to an LT1 aside from one Optispark replacement. The L98 induction system, while a pain to work around/on is perched on top of basic old school SBC with a normal HEI dizzzy. The LT1 is an slightly different ball of wax. The intake looks alot simpler to work around. I've driven both so there's no need to go down the performance comparison rabbit hole. I guess it mainly comes down to the reliability of Optipark unless there are other things I'm unaware of (reverse cooling issues?). I don't like to be left sitting on the side of the road. I can swap an HEI module on the go.
Is a 28 year old car more reliable than a 30 year old car? How it rolled out of the factory is much less important than how it was maintained in the years after.
True, but past maintenance can be a bit of an x factor at times though. I guess I was after any Achilles heels in the design. Depending on who you talk to, Optispark, for instance, is either no big deal if you use quality components or its guaranteed to leave you sit dead on the side of the road at some point. On the other hand, HEI had a questionable reputation at one time but that was down to using cheap, poor quality replacement modules (or neglecting to coat the underside with the included grease). With good components, HEI is great in service. I don't know if the LT1 has any other potential gremlins as I'm not familiar with them.
The only real issue issue with the LT1 is that certain parts are specific only to it. That being said, aside from the opti and water pump, the only other complaint I've heard of was the oil pump drive failing and that seems to be pretty isolated as far as happening... mainly with mods.
That being said, pretty much anything you could need on an l98 can be had locally at a parts store. The biggest problem with those is the injectors. Otherwise, while the induction systems are vastly different. The total amount of components involved is similar and I don't really think one is worse than the other. L98 may be a little easier to work on without the added covers. If it were me and both were the same condition, mileage and price, I would jump on the newer car only because it has a little more potential as it sits if you plan on modding. The stock LT components are stouter than L98 stuff as far as port polish and cam if you should go that route.