I have an 08 with Magnetic ride and like yourself I don't feel a thing.

You hint in your post that your a little older ,that might be the problem we both have.It's my though that we both need to take up road racing.

Good luck,Steve
Magnetic ride in the C6 will appear to be less different in normal driving on decent roads. You will feel the difference on concrete slab freeways like Hib pointed out earlier on the C4 question. You will also notice the different in a hurry on the autocross course or on a track time run at a road course. Both my C6's are MagRide and that's the way I see it.
The first MagRide car was the 2003 AE and a few others that year. In 2003, the difference between Tour and Sport were much more dramatic with the Tour mode being much softer and floaty (?).
A little trivia here, the C4 first Selective Ride Control was the FX3 system discussed here which has electronically activated control of the valving in the shocks. The settings were Tour Sport and Performance and generally were speed sensitive where the shock stiffness went up as speed went up with Tour starting at a softer setting and getting medium stiff by 90 MPH or so. Performance started at a much stiffer setting than Tour and reached maximum stiffness at 90 MPH. Sport setting is somewhere in the middle. FX3 was optional with the standard 'soft' suspension (my ex '92 was that way). If you ordered ZO7, you got FX3 and the bigger springs and bars. The ZR1 came with FX3.
In 1996, FX3 was replaced by F45 which had shock setting but F45 was more geared to ride improvement for the daily driver and not for performance. The "hot" suspension for handling in 1996 was Z51 with stiff springs, bars and shocks - non-adjustable. F45 continued into the C5 up to 2002. In 2003, Magnetic Selective Ride Control (F55) was introduced. Since then MagRide has been the only adjustable shock system but it is not available with Z51 or ZO6, so you might not consider it a performance shock system until you look at the ZR1 which comes with MagRide. Ditto the CTS-V.
I've had a 1992 with FX3 that I modified with the Bilstien controller that used interchangable chips for drag racing and autocross and stock. I had a set of shocks rebuilt to "Moracca" valving - great for road racing and autocross but a real ***** on the street. My next adjustable shock car was a 2003 AE. Remarkable to say the least. Both my C6's are MagRide, I prefer them that way.
Now for the original question - the 93 in question probably passes all the start-up self tests in that the shock pass the time out requirements for moving between max soft and max stiff in the time required and they adjust according to schedule but the shocks are like worn out internally if they have never been serviced or replaced. If that is the case, it's time to replace them or have them rebuilt. Unless you plan to race the car, the stock valving should work nicely.