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I think you should be fine as long as you stay within some safe limits and don't try and max the potential out.
Make sure your fuel system is up to the task of supporting the kinds of HP you're expecting. Get a conservative tune by a knowledge tuner. Not overly conservative but safe. You don't want to be riding down the highway in your final overdrive gear and have the motor start getting into some detonation if the motor starts to lug hard (as a result of things like accelerating in your final overdrive or you're on a steep incline, etc) and tries to boost. Also don't go overboard on your boost. More boost generally = more power all things being equal, and it can be tempting to run the most boost your setup should be able to support. Remember this is your daily and you don't want to push your safety envelop to its edge. Understand the kind of fuel you'll be using and the compression an LT1 makes. This is where a knowledgeable tuner for these cars comes in. They can tell you what's safe to help you maintain a reliable DD.
I've had a couple SC'ed vehicles as DD. Never a huge issue. Of course they were both factory SC'ed 03 SVT vehicles, but they were modded, and I tried to stay within the limits of a safe setup while getting some very noticeable gains.
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