When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
I absolutely agree that $1500 is nowhere near the price of admission. That's probably just for the convertible parts, plus maybe the waterfall, all in raw pieces.
The labor will be expensive, unless you DIY (which would be a major part of the fun). Then you'll have to get things painted and matched, blah, blah, blah. Even doing it yourself (minus the paint) I think you'd spend a minimum of $3K.
I would much rather buy a Vert and convert the mechanics to a Z06 or better. No need to start hacking up a perfectly good body. The mechanical conversion is all bolt up and the parts become available at reasonable prices as people modify the Z06s. The hardest part is the pistons but LS1 pistons work just fine. You can easily pick up a few additional HP over the Z06 with cams, porting, etc. Do the springs, sway bars and shocks and you are very close in the handling department. No need to hack up body.
I'd take my 480 RWHP 02 vert against a Z06 any day