Hi Gary,
I have an L48 '78 w/ auto.
I don't know about the 0-60 and 1/4 times, but for myself, I am happy with her performance, especially after her tune up and carb rebuild! She accelerates quick and will press you into the seat backs, but I think most men would want MORE POWER! With modifications, this can be achieved. It is only limited by your budget.
The L48 in 1978 had stock hp of about 180-170. Mine was 170 because it had CA emissions. We have since removed quite a bit of "stuff" and I am guessing that her hp has increased slightly, but I don't know by how much. Like I said, I am happy with her quick throttle response and scooting through traffic when needed. However, when the AC is on, she is considerably sluggish.
My 78 is a daily driver, and has been for the 12 years my husband and I have had her. She has been almost exclusively driven by me for the last 7 years (I am easier on her than Hubby) and we have R&R'd a lot of items to keep her safe, dependable and in good working order.
There is a 'shopping list' of what to look for with each generation vette in one of the tabs at the top of the CACC page. I'd print out a copy and take it, it has loads of things to remind you to look for and ask.
The 1978 Vette is almost 25 years old, and there will be some major items that need to be addressed; What repairs have been done? When were they done? How well was the vehicle maintained?
Within that time, I'd think that these items would need or had needed overhauling:
suspension, bushings and bearings, not to mention hardware pieces
rear end and yokes
u-joints, as needed
brakes
electrical and vaccum systems
weatherstripping
tranny (depends on the mileage, care and how driven)
engine (depends on the mileage, care and how driven)
radiator
interior, especially seat belts
exterior, paint and/or body work
Another factor: How long has the vehicle sat and gaskets been allowed to "dry out"?
Everyone likes the older 'low mileage' vettes, but me. I'd rather a vehicle was driven regularly and maintained than one that sat forever and was never started up or hadn't moved in years.
Happy shopping, and good luck!
Silver