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Just enjoy your car, nothing you can do about it now. However, I know most people can't keep cars on this site for more than a couple years but its value will not be as much 30 years from now. I would want to know what caused the failure as did he beat the crap out of the car? Was the engine hand-built or just assembled? It is probably on GM's history report and shouldn't be hard to find out why.
If not something you discovered as part of your pre-purchase due diligence, you think the seller would have an obligation to disclose such a material fact prior to the sale. It's 'water under the bridge' now but I'd be a little ticked-off (and curious to know why an entire engine was replaced).
Since recently I've noticed that a majority of posters on here are "GLASS-HALF EMPTY" kind of people... aka haters/pessimist..
I'll be the first to say:
CONGRATULATIONS!!! ! U gotta BRAND NEW 505HP LS7 in your 2-3 Year old Corvette Z06!!!
I gotta say... the only way I would give a damn about "WHY..." is if it were replaced due to a major accident where the old one exploded or something.
Seriously. On the contrary we come across threads with people dying to have their engines replaced due to serious problems and forum members bitching that GM or dealers wouldn't. Go figure.
You could find out WHERE the replacement was done ( the VIS will show who did the replacement), then talk to the service manager at that dealer....a Z06 engine replacement is probably something that someone there will remember...it doesn't happen all the time, and it was only done a short time ago. If the place is close by, I would drive over and talk to whoever you can. And they would not put in a rebuilt LS7 if it was done on warranty. They will stamp a crate motor with the matching numbers and then ship that to the dealer.
I would be doing this all out of interest only, there is nothing inherently bad about having a replaced engine...so don't worry about it, just enjoy the process of finding out about the car's history.
Another of the benifits of being a Kentucky resident is that dealers are required if asked, to provide last owers's name, etc. I'm kind of like some of the others. I'd want to know why it was changed out. Just to know. The why is going to be first question asked, if you ever mention that the engine was replaced under warranty.
I agree with cclive. In this case the only thing that really matters is that the new engine was installed by a fully trained and qualified person.You obviously have a long and trusted relationship with the dealer from whom you purchased the car. If you have any doubts at all, check the VIS. You could also ask them to check the numbers on the engine.
If I were you I'd be out enjoying myself driving my new toy and not wringing my hands about imagined problems.
I popped mine at 3200 miles, its an 08 and getting replaced right now with a crate engine.
Make sure you check your oil often, otherwise you're good to go!