Its no slouch stock, but if 350 hp/ 375 tq isn't enough LS-series engines are very great engines to build up. Cold-air intake exhaust and a flash program will net a lot of performance for the buck.
It handles like, well, ummm.... a Corvette!
The styling of the C5 compared to the C6 is not as aggressive, but I believe it is sleeker/sexier. Also, the C5 has more interior space than the C6 and, in my oppinion, a more aesthetically pleasing not only to look at, but to function in as well.
Another bonus is the suprising amount of storage available in the back. Even with the targa top secured in the back, the storage compartments that are built in offer plentiful storage oppurtunity.
A contributing factor to the amount of storage was the lack of  a spare tire. This is because the front and rear wheels ae two different diameters, and the tires are rotational. That also means that because of the lack of a spare tire, all Corvettes meant for the street need to have Run-flats installed. They are expensive to say the least. Some could look at this as a benefit though and say that I wont beat on my car as much. In the end, EVERYTHING on the car will last longer, and will HOPEFULLY be cheaper to maintain. That thought process is out there, I know, but work with it ; ).
Some of you may say that insurance and gas on a Corvette must be rediculous, but it is only $20 more per half to insure the Corvette(in my name) than to insure a new Chevy Aveo(in my name). That is 11 cents a day I know that I am willing to spend. As for gas, If I am driving to get good gas mileage, 30-32 mpg is no problem at all. I do play around a bit though, but on average get mid-20's.
One of my favorite parts about it is that it is MINE! Corvettes are one of the most affordable true sports cars, but in my age range, there is a certain amount of exclusivity about me being a 22 year old driving my Corvette around.