Even a 125 shot is safe....even on the stock fuel system, all you need is a window switch. 
Dry shot ok?
A 50 shot on an LS1 is really not worth it. Go 75 at the bare minimium and it will be relativly safe as long as you get a complete set up with a window switch. With the stock injectors and your set up you can easily go with a dry 125 shot. That's what I started with about 4 years ago and it was a good starter level. Got bored with it though, after a few months I upped it.
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A window switch will allow you to set an ON RPM and an OFF RPM for the nitrous. With a dry kit the ON rpm is not as important as with a wet but most guys still set it at 3,000, the OFF is what's really important. You want to shut the nitrous off before the rev limiter kicks in because if you do hit the limiter it will shut the injectors down and that can cause some serious damage if your still spraying.
You may also want to consider a Fuel Pressure Safety Switch, it goes on the end of the fuel rail and will shut the system down if the fuel pressure falls below a preset amount.
You may also want to consider a Fuel Pressure Safety Switch, it goes on the end of the fuel rail and will shut the system down if the fuel pressure falls below a preset amount.
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