Faults:

Catalytic converter sounded like tin cans rattling. This wasn't a problem since I wanted a straight pipe exhaust anyway.

Car needed a tune up. This is normal maintenance at 100,000 miles and was quite cheap.

Battery suddenly died one day. I replaced it, which wasn't so expensive. This was probably since it was old to begin with. Alternator is string, so no big deal.

I blew two tires, but that was partly my fault for driving so hard.

The only that did make me angry so far was that I had to replace a coil pack. At 200 dollars that was kind of expensive.

General Comments:

I love this car. It is my first sports car coupe. I think that it will allow me to be ready for the V8 in the future.

I love the handling, and at 200 hp it is quite fast for a V6.

The 3800 series II engine is award winning and very strong.

The car is not hard to work on, and when you do it is not that expensive and parts are not hard to find.

The car is easy to mod up. You can add a supercharger, headers, a cold air intake, and good aftermarket exhaust to perform better.

Faults:

Alternator failed days after warranty ended, GM agreed to split the cost, but it was still $300.

Pinion seal leaked, and was replaced incorrectly resulting in a rear end failure, and complete replacement.

T-tops leaked, dealer couldn't fix.

Brakes warped immediately, as did replacements. Fixed with drilled and slotted rotors.

Replaced 4 door speakers under warranty, and it's ready for another set.

General Comments:

Absolutely loved the car when I first drove it. I was lucky, and bought one with the y87 performance package. The 3.8L can get you to the legal limit in about 7seconds, what more do you need. Handles great for a car that you can drive across the country (getting 30+ mpg) and arrive feeling well rested.

Having owned a 98 Trans Am, I can say that the 3.8 V6 makes for a smoother, better balanced, and more refined vehicle, but the 5.7L makes up for its roughness with engine rumble, and tire smoking power.

The 3.8L engine was an award winning engine back in its day, and for good reason. After the warranty expired, I added a turbo kit, and proceeded to turn up the boost until it was putting out more than TWICE the stock torque, and nearly twice the stock horsepower. 40k miles later, the engine, transmission, and rear end are all still stock and going strong.

Faults:

Other than normal wear items:

1. Knock sensor

2. Crankshaft position sensor

3. Factory speakers (I like my metal loud, and have destroyed the factory speakers in every car I've owned)

General Comments:

This has to be one of the most amazing cars on the road.

Acceleration is the car's strong suit. The LS1 V8 (has nothing in common with the old 350 SBC) is the best production motor of the 20th century. Its highly underrated, my car made 305whp with an intake lid and a different muffler (stock auto cars usually dyno~290rwhp). This motor responds extremely well to minor mods, I picked up about 15rwhp while spending under $300. Just for reference, the LS1 is factory rated at 305 crank horsepower. (yeah right, GM underrated it by about 40hp).

I ran 13.2@106 mph on the quarter mile, which is flying for a daily driven street car (your average 4 cylinder economy car runs a 18 second et). This is not a car for an inexperienced driver, as it will easily do 160mph, spin the tires at will, slide sideways, and generally bite you in the ass if you are reckless.

Enough about the almighty engine, there are plenty of other things to like.

I like the styling, looks like an exotic car with the raked windshield and wide stance. People still compliment and notice it, even though the design is 14 years old.

Car handles surprisingly well. It isn't a Miata, but it does hold its own in the twisties.

The auto tranny is a nice piece. Shifts firm, fast, and is easy to control the tranny with your right foot. The manual is also a nice piece, the 6th gear allows you to cruise on the interstate at insanely low RPMs and gives you stellar gas mileage.

Gas mileage is pretty good for a big V8. Provided you keep your foot out of it. I usually get 20-22mpg, doing a 70/30 mix of interstate and urban traffic. Manual models get around 28mpg on the interstate.

Car has been rock solid reliable for me. I haven't had any major issues, and I've put 60k hard miles on it. Good gas mileage, tons of power, and an awesome record for reliability is why I love the LS1 V8.

Now for the gripes:

Interior. Its full of cheap plastics, and I have the million shades of grey color scheme (it was supposed to be contrasting grey, but it looks like crap). The layout is great, gauges are nice, but the quality lacks. Lots of squeaks and rattles too. Seats are uncomfortable, but this might be a personal thing.

Typical sports car vices:

Long doors and low seat make it hard to get in and out

Tires are expensive

Noisy

Small trunk (although it isn't too bad if you fold the rear seats)