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iTrader: (1)

So i just got my first vette a 99 frc and when i picked it up they only had one key and fob. The car starts and runs great 75% of the time. The key is black and has two differant but similler cuts in it. When the securety light on the dash is on, some times i can turn the key and nothing happens, other times it will start but as soon as i let the clutch out it stalls. But if the lights off it runs fine. If i flip the key over it sometimes fixes the problem. Once i got a message to pull the key out for 10 sec then restart. I'm thinking its a valey key since it will run hard and just fine when the lights off but the problem occures the next time i try to start it, and it fits all the locks but the center console. Gm cant tell me if its a valey key but they can cut me a new key based on the vin, but there not sure if the vats code would be the same as the valey or if its suppose to be differant. The history shows the bcm has been changed 3 times in the past. So the question is, is it the key, bcm, pcm, or something else. Anyone had anything like this or know of any other thing it can be.