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I know the block and some of the other internal parts are aluminum, but are there no wearable steel parts at all in the LS2?
The crank is iron and the rods are steel, but they run in bearings and should not shed any material as long as the bearings haven't failed. At that point, catching iron particles is pretty much moot, ie the engine is trash anyway. The cylinder sleeves are iron, and the rings are high chromium steel. These will experience some wear, but if the oiling system is doing its job, very very little between oil changes. Over the course of 100,000 miles or so, wear will accumulate, a few thousandths worth, but a magnetic drain plug really doesn't do anything useful about that. Any wear particles will either be so small they'll stay suspended in the oil, or if larger than 10 microns, will be caught by the filter.
If you use a magnetic drain plug on a brand new vehicle, you'll see a glob of iron fillings attached to it at the first oil change. After that nothing, unless of course something breaks.
Done it a hundred times, cars, motorcycles... they all shed a little metal when new. Normal aspect of using mass produced parts.
So if your already past the first change probably wont do a thing. Must be some value to it, GM puts a magetic drain plug in the highest volume vehicle produced - C/K trucks. Why the Vette using the same engine family doesn't get one is a mystery. Maybe they needed to save a gram of mass and 2 pennies.