I went through this decision-making process recently, checking out both C4 and C5 convertibles. I like the looks of the C4 better, like the clamshell hood, and like the narrow footwells and high door sills. Didn't somebody say that you
sit in a C5, but you
wear a C4? For the occasional purely recreational top-down driving I do, climbing in is actually part of the fun.
The C5 is more roomy with easier ingress/egress, is more refined (though GM has a lot to learn about interior design), has >2X more storage space, has better gauges, has much less body flex, and the LS1 alone is reason enough to want one.
In the end I found a nice 1-owner SoCal '96 LT4, flew down to Orange Co. with my wife, and we drove the Vette back to Seattle on California Hwy 1. Driving conditions ranged from LA gridlock, to winding 2-lanes along Big Sur, to freeway cruising up Hwy 101 and I-5. The LT4 never missed a beat, the ZF shifts like magic, and together they make some beautiful music winding through the gears. It was a pure delight to blister past the long lines of cars creeping up those steep coastal hills and switchbacks. Averaged 25mpg to boot, even with more than a little bit of enthusiastic throttle jabbing. I only wish I had enough hair left to let the wind blow through it. :cool
The wife was skeptical about the Corvette purchase, but she got into the spirit of things by the time we blew through Hollywood, and was soon taking her turn behind the wheel, letting the speed creep up above 90mph when preoccupied with sightseeing (she is a notorious leadfoot). She's gotten pretty good at spotting oncoming Vettes and waving.

She even waved at the C6 we saw blasting south on 1, side-by-side with a Viper (must be the car mags at work). Since we got back to Seattle I often open the garage to find the Vette MIA -- seems that the wife is taking her joint ownership seriously.
You can't go wrong with any Vette if it's what you really want. The way things are going I might need two of them.