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The correct answer is "as long as you can". If you are going the same direction, just keep wavin as long as you can. If you are lucky and go to the same place, just keep waving the entire time, even when you get out of the car. If not, and it's convenient, follow them and wave more.
One time, I was in my Lemans Blue C6 on I5 and came up behind another Lemans Blue C6 and pulled in behind him. We waved. I followed for many miles - the reaction from other drivers was interesting. I eventually got bored and passed, waved, and moved on.
?? Is this like an awkward hang with another C7 owner in a parking lot. How about hanging with that one dude that keeps saying 'jizz' every time he sees a hot car or body kit? Maybe it's that time you saw your doppelgänger in a gas station bathroom and it was a single....and he was another ethnicity and... [putting crack pipe down]
Dude...it's another car guy/enthusiast. Just be cool and drive like you have the same damn car. Not like you gonna race your doppelgänger.
Designer Imagines A Corvette That Looks More Like a Corvette Than the Corvette
Slideshow: A Jaguar designer's personal project imagines what a modern front-engined Corvette might look like if Chevrolet revisited the golden age of the Stingray.