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If you want to read ALL ABOUT the development of the C5, read "All Corvettes are Red" by James Schefter. The author attended most meetings during development. Interesting book about engineering, politics, and people during development of the C5. As the Washington Post said about the book, "Readers get to see a world few will ever know."
I'll agree that the book is a good read. My copy is a first edition, complete with the author's signature.
I will say that there are significant aspects of vehicle development that aren't discussed. No discussion about vehicle dynamics, for example - developing the suspension pick-up points and ride and handling development. But documenting the entire development process is more than a single author can do.
For the tech dweebs, another good book to pick up is the book released by SAE (Society of Automotive Engineers) right when the C6 Z06 was introduced. It's a collection of thirty-plus SAE technical papers from the very beginning of the Corvette.
Designer Imagines A Corvette That Looks More Like a Corvette Than the Corvette
Slideshow: A Jaguar designer's personal project imagines what a modern front-engined Corvette might look like if Chevrolet revisited the golden age of the Stingray.