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1.) Widespread, but unless it is severe it is treatable with occasional Techron fuel addative.
2.) Simple preventive solution. Install a CLB yourself $50.00 in less than an hour.
Generally speaking, the C5s are very reliable. I would drive mine anywhere, and not worry any more than with any other car.
IMO, I wouldn't rule out one with more miles on it.
Don't buy the first one you look at. Enjoy the hunt!
The car clearly has a few bugs that are easily fixed if your have even the slightest of mechanical aptitude. Good luck in your search, you will know when you find the right car for you.
Read through the sticky's on top of the general and tech sections they have a wealth of information about these cars, what to look for and related problems.
A carfax will only show what has been reported so take that with a grain of salt, when in doubt you can walk away and don't hesitate in having someone very familiar with corvettes evaluate the vehicle for you.
Good luck in your search, you will know when you find the right car for you.
From: In a parallel universe. Currently own 2014 Stingray Coupe.
C7 of the Year - Modified Finalist 2021
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Pen - PM me your e-mail address and I'll send you some files on the C5 - including a Corvette Buyers Checklist. These files contain a lot of info that may help you in your search.
I took years before I accidentally stumbled onto the Vette I bought. It was sitting on the local Hyundai lot just a mile down the street from my home. Like he said, enjoy the hunt, don't buy the first eye-catcher that you see. And look at the list the above offers. You can't go wrong.