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I have a 02 coupe that I took to the track. Ran a 12.95 @ 111 mph. That was stock except for Z06 Ti Exhaust.
I just got the SLP Loudmouth Exhaust and if you like loud... they are the way to go (straight pipes... no mufflers). I need to get an x-pipe though to get rid of the motorboat sound. The SLP Loudmouths are supposed to gain up to 15 HP I think.
Jedimaster must have really sticky tires, a particularly good-running C5, or is a master driver. Stock C5 coupe/convertible times usually run low 13s at 105-108, in my somewhat limited (3 cars) experience. The start is the key to a good time, terminal speed is less affected by the start.