[mblum]

My first track car was a 1997 Trans Am, which I still have today. I still enjoy driving it and don't see me getting rid of it. My 4th gen is highly modified (440rwhp) so really isn't a direct comparison to your 1LE which from I can tell from the link you posted has some suspension mods but no internal engine mods, which is a good thing for track survival.

The 4th gen is a pretty decent platform but defiantly has some design drawbacks that really are difficult to overcome without spending a ridiculous amount of money. Most of those issues become more relevant when you increase the HP levels significantly over stock. At stock HP levels it's a pretty decent car on the track.

Here are some of the weakest points to keep an eye on that are pretty well documented on some of the popular forums:

-The stock power steering tends to over heat and puke fluid. The 1LE has a better unit from the factory than regular T/As and Z28's and it sounds like your car has a turn one unit, which is better yet. Running full synthetic power steering fluid (like Redline) does help as well. Keep an eye on the reservoir between sessions.

-Front wheel bearings. These are marginally acceptable and if you run any tire wider or stickier than stock plan on replacing them often. Unfortunately, for the front wheel bearings at least, this platform responds very well to a square tire setup. With the stock front wheel bearings and sticky wide tires the bearings get sloppy quick you will have noticeable pad knock back and trouble keeping alignment specs. I run 18" rims with 315 slicks on all 4 corners and the grip is quite impressive. To run a setup like this you really want to upgrade the front wheel bearings to some aftermarket units that are designed for track use. Again not cheap.

-Brakes, they are marginal when compared to what modern cars come with. The 6 piston monsters on the ZL1 were considered exotic back when the 4th gen was dominantly roaming the streets. Big brake kits are expensive and will effect the rims your able to use and most likely will not clear the rims you currently have on the car. But if your car is stock (less HP means less speed to shed) and you plan to autocross or run at a track that's not terribly hard on brakes you have a shot at making them work.
Here is the brake setup that I run and while it's still a far cry from the 6th gen its about the best your going to get with the 4th gen setup without a big brake kit. High quality smooth rotor blanks. Stainless steel lines. Castrol SRF fluid, Hawk DTC 70 pads in the front and Hawk HPS pads in the rear. Smooth brake modulation into the brake zone is a must and cooling the brakes slowly after a session is critical to not cracking rotors. I've cracked a lot of rotors by not doing this in the pits after a session.

-While this is not an issue to watch for it's worth mentioning. I briefly mentioned above that this platform does very well with a SQ tire setup. These cars are nose heavy and tend to understeer, so a lot of tire up front helps this issue and makes the car more balanced.

-Run as much negative chamber and positive caster in the front as the suspension adjustment points will allow. This is typically -1.5 camber and +7 degrees caster depending on production variances.

Engine and trans temps really are not a huge issue, while not as bullet proof as the 6th gen I haven't had too much issue, just keep an eye on them while on track. The 1LE should have some extra coolers that the regular 4th gens didn't have.

As long as you have realistic expectations for a 25+ year old design I think you will really enjoy the car. Mine is still very fun to drive and feels nothing like the ZL1 and is fun for different reasons. I've also come to realize how amazing the 6th gen platform is in stock form and how well balanced it is.