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Sent an email to GM via www.gm.com. So straight from the horses mouth
is the sigificants of the LS1 designation;
"Thank you for contacting the Chevrolet Customer Assistance Center. We
appreciate you taking the time to write us in regards to the meaning of
the LS designation.
LS is one of the many Regular Production Option "L" codes that General
Motors uses to identify an engine. Other "L" codes that are used to
identify a particular engine is LE5, which is for the 2.4L Ecotec engine."
Maybe I should have asked Dave Hill that question when I was at the GM Corvette Tech Center show instead of asking him about quality. He probably would have given me an answer instead of blowing me off about quality. Nice to meet another person full of themselves. Can't have too many of them. Then watching him put a foot on someones tire (without asking)to sign an autograph was even more irritating!
How about LS = Lucky Stiff
A group of us spent alot of time with Dave during Historics Weekend at Laguna Seca 2002, the year they honored the Corvette. He was very open and was quite interested in our opinions regarding what improvements should be made to C6, including quality. He signed all our engine compartments and posed for as many pictures as requested. This is not the behavior of a man that is "full of himself". He also accepted our invitation to a group dinner and was entirely gracious to all. Perhaps your approach when questioning quality was perceived as antagonistic.