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There is a greenwood kit here, http://greenwoodvette.com/gc4.htm, and it looks decent imho. I also heard that the spare tire in the back under the rear hatch causes a slip stream, and that you can gain 3-4% performance increase by just improving aero. anyone actually tried it, or know where I could get one cheap?
As far as the bypass goes, you probably won't feel any gains, but hey, its a cheap mod so why not? You can actually get the items needed for this at a local parts store for under $4.
This is really all you need for a c4 or c5. It also depends what year you have, my '92 has a larger line going in to the TB, 3/4" I believe and 1/2 coming out. It's been a while so I couldn't swear to that so you just need the coupling that is right for your car. If you want to make it a little neater, get some longer hose and route it around the engine bay and over the radiator shroud. Someone posted some pictures a while back, maybe try a search of the achives.
I did the TB bypass for free... Well, I did have to buy one hose clamp, so like 80 cents. All of my coolant lines were long enough to go the distance, so I didn't have to use additional tubing and splice it in. And no, you won't feel any gains at ALL. Zero. The only reason to do the mod is to make it easier in the future for you to remove your TB for cleaning, etc.
The kit works well. Rick Doria used the Greenwood C4R kit for Open Road Racing at speeds in excess of 250 MPH. Did the job nicely.
Of course, you'll get the usual response from those "purists" who say to ANY body modifications on a C4, but if you want the aero it is the best one out there.
I also know that when Morrison was testing the Snake-Skinner package he was developing that the belly-pan gained him 10 MPH top-end speed with no other modifications. Aero is a fine-edged sword that can help or hurt you. Too much downforce will slow the car but it will handle like it is glued to the road. Too little downforce and it will go VERY fast but not hold the road well. Balance is the lesson here.
As far as the bypass goes, you probably won't feel any gains, but hey, its a cheap mod so why not? You can actually get the items needed for this at a local parts store for under $4.
I got my parts for around a dollar I just got a longer hose that would go from the manifold to the heater core