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In looking I got most of the same results. It appears this was something offered by Grabiak Chevrolet back in the day. Even then the consensus is that the cost was way too exorbitant to warrant buying it over a "standard" (LOL) Z06 when you could have spent a lot less and received similar to better results.
The question I more have is why was the car further modified at all? If it is part of a relatively low edition of dealer-produced cars then wouldn't logic dictate that if there is paper work to back it up and it be left as-delivered it would possibly retain some value? Not anywhere NEAR what is being asked for it, but it would at the least be comparable to circa-time period Z06s for sale.
Appears pretty expensive. Perhaps a "0" mile, saved as a collectable perhaps, maybe, possibly would go for that. You would be paying quite a bit for the Pilgrim add ons.
A quick look today for 2002 Z06s for sale shows a 18,000 mile Lingenfelter build for $29,9k; a 6,700 mile for $26.9k; a 9,400 mile one for $27.9K; etc, etc.
This is not to knock the seller or Pilgrim, but it appears the seller might be high on the estimated value of this car.