Pros:
Great cars & reliable bang for the buck. I'm on my 2nd LS1 F-Body.('98 & '01)
Decent fuel mileage even when modded , and even if driving to the track, turning 11 second w/No Power adder 1/4 miles times, then driving home or anywhere.
(I have swapped the stock 3.23's for a 3.73 gearset)
btw, MM6 Stick cars usually are found with 3.42's.
Cons:
With a stick (MM6), the puny 7.5" rear is notorious for Gear/Carrier failure/"explosions"
("if you lean on them").
Electrical/switch gremlins.
Weaker rod bolts (until 2001).
Toss the EGR type intake, and put on a 2001,02 F-Body Intake (GM used the same LS6 intake as found on the 01-02+ Zo6 Vettes!)
You'll pick up approx 20 HP.
Hope this helps you.