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There is a GREAT article in Vette magazine this month detailing how to swap out the early tire pressure sensors, transmitter/receiver, and key fobs. Gene Culley has a conversion kit over in parts that is a great deal.
The thing that I think makes the Vette article really good is that the factory manual shows the transmitter/receiver in the rear driver's side fender well. The Vette article has a photo of the transmitter beneath the carpet in the cargo area. I would have been more than a little annoyed if I had gone to the trouble to remove the left rear tire and fender well cover and not found the part.