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T/A's already setup which is nice. If your looking to mod a car and make it fast then it might be a better platform financially since it already has a forged motor, ect. That is if its setup the way you would do it. If you buy the T/A all you have to do is get a blower/nitrous kit for it and be done.
If you get the C5 you would have to buy everything. If I was in your situation I would probably get the T/A just based on the money you would save modding it.
If you just really want the vette then get the vette. You'll just have to start from scratch.
Trans Am, Z28 are awesome. I have owned both. But now I look back and wish I would have made the Vette jump sooner! No comparison. I have added a few mods and am even more pleased. BTW, gears are the best bang for the buck.