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What advantages / disadvantages are there in doing this?
Also, what is the best way to deal with fuel pressure for the best performance. I read a thread about the computer adjusting air / fuel mixture and you end up back where you started form.
Re: air pump removal on LT1, does it help? (vetteboy95)
What advantages / disadvantages are there in doing this?
Virtually none. The LT1/4 AIR pump is electric so that there's no drag on the engine (unlike the L98). It only runs at startup. The only minor benefit you'll see is a few pounds of weight reduction. With it removed, you'll need the PCM reprogrammed to eliminate the SES light. Unless you have a dedicated race car and need to shave 5 or so lbs, I wouldn't bother with it.
Also, what is the best way to deal with fuel pressure for the best performance. I read a thread about the computer adjusting air / fuel mixture and you end up back where you started form.
The PCM compensates for changes at part throttle. When you adjust the fuel pressure you'll be trying to improve WOT AFR. At WOT, the PCM doesn't compensate. Since the engines are generally rich from the factory, you want to reduce pressure (less flow at WOT results in a leaner mixture). Of course not enough pressure can screw up your idle and part throttle driveability. To know if your changes are doing any good, you need a wide band o2 sensor and the use of a dyno. The LT engines are VERY tolerant of AFR changes unless you have big time mods. On a stock or near stock engine you'll be lucky to see 5hp. When you figure in the cost of the AFPR plus the cost of dyno time, it's a pretty expensive 5hp.
Don't be fooled into thinking that what works well on an L98 will work equally well on a '95 LT1