The LT1 came in 1:1 and 1:1.5. My buddy and I own identical '94s with the LT1. His is the slot, mine is 1:1. His comes out of the hole a little faster, mine has a little more top end. We've drag raced. He beats me off the line. I catch up by the end of the course and start pulling ahead. Believe me, the 1:1 has more than enough power to pull anyone out of the water. I always have to tell new drivers to really baby it on the start, or they rip my arms out. We use my boat mainly for slalom, but a barefooter friend absolutely loves the speed of my boat.
I have had no problems at all with this engine, except for a misaligned alternator bracket. It's not a finicky engine at all.