I owned an 02 Z06.
One drawback is they don't have a spare tire and they don't have run-flats.
If you decide to go for it, take your spare tire out of the GTO. It just so happens that the GTO spare tire will fit any wheel position on the C5 Z06 as a temporary spare. If you decide to make a trip there is plenty of room to put the spare in and still put a bunch of luggage.
Those cars have very little sound insulation. Heats travels from the transmission through the center console and will get hot enough to burn you. They make an insulation that you can add to the tunnel from the bottom, but it still gets very warm.
Stock it will run low 12's. Add DR's and an intake and you'll see 11's.
They will get over 30 mpg at 70 mph on the highway.
The seats aren't as comfortable as the GTO's but they aren't bad.
You will absolutely love the HUD. If you race it the HUD has a shift light in it. Even if you don't the HUD is great when driving, you can always see your speed without having to glane away from the road.
Go for it.