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In powershifting you keep your foot in the throttle as you shift -- just don't miss a gear!
As for chirping the tires when shifting -- it is about timing the clutch release as your right foot is opening the throttle. This is really something that should not need to be learned -- it kinda comes naturally, you should just have a "feel" for it.
From: I'm not quite middle aged and I only own one gold chain! San Jose CA
Powershifting is shifting with power...ok, allright, so I'm a smart&#*!
Powershifting is upshifting quickly without lifting off of the accelerator. The clutch is basically slammed to the floor just fast enough to change gears and back out again. I'm of the opinion that the C5 does not respond very well to powershifting. I think it has something to do with the tranny being in the back and the long shift linkage that is involved. Powershifting is hard on any car and can do real damage to the drivetrain...but it sure is fun.
I drive a Z06 and I have found that the car responds better to a quick and precise shift as opposed to powershifting. Powershifting can result in bent shift forks, damaged gears, damaged rear end gearing and other expensive parts! Quick shifts can be just as productive speed wise without taking the chance on busting parts, but it does take some practice.
Just my humble opinion...but I do agree with myself, if I do say so myself, but that's just what I think.
a mild one to get the tires to chirp would be to run her up to about 4500 in first at about half throttle and then do a power shift. DO NOT LINGER WITH THE CLUTCH ON THE FLOOR! She will chirp every time!