Nitrous...Wet or Dry???
A wet shot is easier to run on the LT1 than a dry shot. Contrary to the LS1 cars where you can spray through the maf and the computer will compensate for the denser/more air and adjust the fuel accordingly. The Dry shot on the LT1 boosts the fuel pressure at the point that you activate the kit.
Personally, I feel a little better tapping off the fuel rail and allowing the fuel to mix with the nitrous as it sprays into the intake. Either can be run safely, but the wet kit gives a little more peace of mind.
http://www.go-fast.org/z28/new_to_nitrous.html
But to sum things up really quick -- nitrous oxide basically works as a catalyst in the combustion process. When introduced into the intake with the right ammount of fuel, the oxygen provides hotter combustion as well as higher cylinder pressures, which in turn makes more power.
As far as dry vs. wet -- its a long debate. Each has its own pros and cons, it really just comes down to personal preference. A 'dry' shot is just introducing nitrous oxide only to the intake tract. A 'wet' shot is introducing nitrous mixed with fuel (through the nozzle) and into the intake tract.
With the basic bare bones nitrous kit (includes solenoids, wires, switches, lines, and nozzle) I'd also look into purchasing some other pieces that can help you run the system safely. A window switch will activate the nitrous system throughout a specific 'window' of the RPM range. This helps do you don't spray through shifts, and so you don't spray too early (below 3000ish RPMs). I'd also look into purchasing a fuel pressure safety switch, which will only let the system activate (and continue running) when the fuel pressure is above the set safe pressure. An aftermarket ignition is also a good thing to look into because it is a good rule of thumb pull about one degree of timing per 50hp you are spraying. That way you can have your tune on motor where it needs to be, and you can still run your nitrous system safely.
This is just scratching the surface, but is somewhere to start. Do some more reading (and a lot of searching) in the Nitrous Section of this forum, or check out www.nitrousforum.com and that will give you quite a bit of info as well.
One warning, it is addicting. So be careful

