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active handling...my 04 has F-55 (Magnetic selective ride control) and it was an option.
I can't tell any difference between the two settings, but when my wifes wakes up and tells me I going 100 plus I just look at her, smile and say "so are you baby."
The Z-51 is another option and you will need more input from the racer types to explain it
on early C5's active handnling was an option. It is NOT a special suspension. It is computer assisted traction control coupled with momentum sensors. If the steering wheel is pointed in one direction and the sensors indicate the car is mvoing in another , a computer algorithm causes the throttle to be reudced and the appropriate wheel to have its anti-lock brakes applied. This is independent of any action on your part.
First generation Active Handling (RPO JL4) made its debut sometime during the 1998 model year and could be ordered as an extra cost option. Second generation Active Handling was introduced at the start of model year 2001 and it also became a standard feature that year. See following for more info:
Z51 is something totally different. Technically RPO Z51 is the Performance Handling Package which is made of the RPO FE3 Sport Suspension and a power steering cooler. The FE3 Sport Suspension part of the package includes stiffer springs, stabilizer bars and heavier shocks than the base suspension. You can read more about the C5 suspensions at the following link:
From: In a parallel universe. Currently own 2014 Stingray Coupe.
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Its an option that you could have got on the '00. Its not like Z51 or the adjustable suspension. IMO, it is a great option to have on the car as it gives you some extra measure of safety.