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It could be the control module but it could also be something as the electrical connection under the console or a chafed wire. I would pull the console and check the connections that you can access from there before I tackled the module.
I bought the car a year ago ('97 w the F45). From day one, I really coudln't tell any difference, but didn't pay much attention. Then I read on the forum where others said they had a huge difference, so I began to wonder if mine is working at all. I checked power to the switch, and it seems ok, looked at the wires and didn't see any problems. No codes on the DIC, H or C for the ride control...???
Okay, for the present time, lets assume the system is working. The difference in the 3 settings is not like Night and Day. More like Morning and Afternoon. The system settings are most noticeable at 70mph+ on the freeway, with the road having a few bumps/dips/imperfections. Do this and switch between TOUR and PERFORMANCE while you are driving and see if you don't notice a difference.
If not, report back and I'll tell you a few things to check just to make sure you REALLY have the F45 and it hasn't been disabled on your C5.
I can't tell much difference on my 98 and also read were other's noticed a big change, I noticed they had newer model cars with the new system. Not sure what year they changed but I'm sure someone does.
Well, if there were any dips or bumps, you should be able to tell a difference. Lets make sure that the previous owner didn't disable the system or that you really have the system in your C5. The selector switch doesn't always mean the system was actually on the car, or that its still enabled.
1) If you cycle thru your IPC diagnostics, the 3rd computer module displayed should be RTD. It goes PCM, TCS, RTD, BCM, etc, etc. If RTD is in the display, then the module is enabled and the only other way it could be "deactivated" is if somebody installed the F45 shock simulators.
2) Verify that your shocks are F45 and that somebody hasn't installed aftermarket shocks and used the F45 simulators (resistors installed in the plugs). Pull one of the rear wheels and visually look at the shock. The F45s have an electrical connector on them. The wire(s) from the shock should go directly to a wiring harness for the car. You can also visually see the control actuator, which is a little metal rod that is connected from the frame of the car to the lower control arm, which also has an electrical connector on it. The main thing to verify here is that your shocks are F45 and that no resistor has been installed in the OEM factory electrical plug.
3) You can also check your RPO label in the glovebox.... should have F45 on it. This would verify that your car was equipped from the factory with this option.
4) Since you have moved the selector on the console...... have you driven the car over 80mph?? A long story, but if somebody used F45 simulators and didn't disable the system properly, you car won't go past 80. The resistors will "burn out" if the selector switch is moved from Performance.
Chime back if any of the above doesn't check out. If it does, then I would say you have an enabled F45. Now you need to find a highway like we have in Houston that has some dips and bumps so you can tell the difference in the settings. On my previous 'vette (2000 Coupe), I could tell the difference in the settings from tour to performance at highway speeds very easily. Try switching lanes a bit quick. You should notice the Perf. setting is much firmer in response. The "road feel" difference should be obvious.
RTD shows on the DIC, the shocks have a connector plugged in that goes into the wiring harness, and the build sheet shows F45. I take it up to 90 just about every morning going to work, with no issues. This is why I kinda wonder if the module is working??