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For me I needed new TPMS sensors and did the upgrade to the '01-'04 system. You can cut a lot of expense by shopping for the parts. I got a used RFA receiver, Ebay key fobs, Schrader sensors on a closeout, and a new connector. For me it was under half of what 8Vette7 stated. I did the change out in my garage and it was not very hard or time consuming. I spent an afternoon, but I was going very slow and careful since I had not taken the trim off to get to the RFA receiver before.
The tire pressure sensors and the FOBs are the same frequency for 97-2000 C5s! In 2001, they changed to the new style tire pressure and FOB sensors. The two systems are NOT compatible.
The 1997-2000 systems work on different frequencies than 2001-2004 systems.
The '97-'00 do not interchange with the '01-'04 sensors.
However, they are both 315 MHz frequency sensors. I am not sure of the difference, perhaps a different digital signal than what the receiver modules are looking for, but they do not interchange.