C5 models
Options to look for in standard C5:
Z51 performance suspension
F55 Magnetic selective ride
3.15 performance rear end for auto(as opposed to the standard 2.73)
Sport seats(fully adjustable)
Heads up display
Common problems:
Rocking driver seat(gets loose)
Column lock failures(which can be brutal and unpredictable)
Leaky rear end
Leaky side post batteries on early C5s
Other things may pop up(feel free to chime in everybody else), but generally speaking these cars are very reliable. Coming from an 88 C4 you should be blown away.
Thank you for the information, though. Would you cay 02 C5's are a pretty common (As common as used Vettes get) car? Also; the Automatics were 4speeds in the C5's, right? Good luck!

ps: I wouldn't trade my C5 straight across for any C6. Not any better!.
I've been looking about only, and the average price for an '02 is about 21-23k in my area, and a few out of state.. Is that a bad price at all? It almost seems to cheap, to me. 

