I guess I'll chime in for shit's and giggles as I've piloted a stock 3v, a stock lt1, and a stock ls1 down the same track in nearly identical conditions.
I owned the lt1, I owned the 3v, the ls was my brother's 99z28. Both f cars had over 150k miles, no tuneups. The 3v had 24k miles with no tuneup. All manual trans. All getting around a 2.1-2.0 60'. 3:42 gears in f cars, 3:55s in stang.
Track is known for being about .2 off the ET and 2mph. Quaker City Raceway, Salem OH. Rises about 30' from the 1/8th to 1320.
Aaaanyhow, all on stock tires. (Have slips if need be)
Lt1: 14.4 @ 96.5 3v: 14.1 @ 99.36 LS1: 13.4 @ 104.3
On another local (read level) track Thompson, I ran 13.9 @ 101 in the 3v. Was hard to launch on pirellis and the wheelhop wouldnt even allow a burnout.
I JUST bought a 2002 WS6 after selling my since blown 3v... so if it doesn't get heads/cam over winter I'll give you a time on that too. That said it runs noticably stronger than a stock 3v.
The 3v is a very easy car to bring out at the track as they really weight transfer well and the chassis is about 10x better/stiffer. Had to lower it to be rid of the hop. On lower rolls the 3v takes pretty good advantage of the VCT (cam timing) that lets it feel bigger than it really is. I could see a set of gears taking full advantage of this. They hang with the fbody longer than most want to admit. The ls1 does run away albeit slowly.
I don't care what anyone says, the 10 bolts are junk in an fbody. If you could successfully launch a stock ws6 at 5000-5500 on a slick stock it would go high 12s @ 106-108 imo. Maybe more with a freak with good air. But that's not a repeat performance. Pushed far too many onto trailers at the track lol. The t56 is also WORLDS better than the 3650; however the stock GM clutch hydraulics blow.
The mustang is a much better overall car for function, package, and quality. However I think they are huge in stature and designed like a brick. I couldn't get over the slabby bulkiness nor the fixed roof. Planned on a c5 but the ws.6 fell into my lap and I always wanted one. I like cars that are sleek and feel more lowslung. That said a stock f car feels a bit bulky with the dash and clunky doors.
I never did boltons but went straight to a blower. Manifolds/cats/non intercooled. Would get pulled by brothers cam/243 (untouched) headed ls car ALL day quite hard depending on temp. With longtubes/x/ intercooler he was too scared to run as mine pulled much harder than his (442/403 vs 398/382). Was in about $5k+ in easy to do that though. My ls1 will be making similar if not more on motor for under $2k.
I guess one feels like an older car, more like my sn95s and that's something I LIKE. It's crappier but its a little raw and it feels right once you adjust to the old crappiness of 90s-early 2000 style cars. My 06 was too removed for me. Like a fast bmw or some kind of sedan. Just different strokes I guess.
There's my unbiased review. Easier to go fast in the f car; but save for that rearend. T tops and 6spd ftw. The s197 is the better chassis/drag car but you need to put more under the hood when the going gets tough. 8.8 with factory 31 spline and carbon clutches is a Godsend though. I think the cars are +/- $2500 by the time you setup each with with the ls1 having a little more window bottom end wise.
Oh and miatas are Gods gift to the unbiased enthusiast. Absolutely love mine and sold my s197 in my sig over it as I would rather drive the stock miata.
btw this is sexy: