
This kind of question stirs up the pot so much
between the C4/C5 ranks.
There is no doubt a base C5 has better technology than the C4.
The oft-used line is that not-one-part of the C4 was carried
over to the C5 from 1996 to the 97' debut.
Then again you're talking about the cream of the crop C4's in
the ZR-1, Grand Sport, and any other C4 with the LT4 motor
which got a VERY conservative HP rating of 330. Why...? Easy.
The C5 was comming out the next year at 345HP, so there is
no way the 'old' model could have more HP than the all-new.
The tranny is rear-mounted for all C5's regardless of the gear
box. You get 3-options so to speak. An auto either comes with
the dreaded 2.73 gears or the performance axle of 3.15, while
all 6-speeds come with 3.42's.
Styling...so subjective. The C4 is pain to enter/exit, because
of that tall sill, that doesn't exist on the C5, but man the
cockpit feel of the C4 is starfighter nice. There is the clamshell
hood, a big favorite of Corvette lovers.
The ride...is nite and day between a C4 and C5, however, some
diehards like the certain raw attributes that the C4 delivers. The
C5 rides like an everyday car..until you put your foot in it. Very
refined. Hardly any rattles and much more usable room for
feet, toes, and luggage.
Which is faster...

Kinda hard to answer that with a
simple generalization. I've seen all the models you mentioned in
the 12's for the quarter mile, it only depends how much you wanna
spend and how much practice you can do at the track.
I've got friends that own each of those cars, and I'm not sure you
can go wrong with either a C4 or a C5, it's really just a personal
preference.
Good luck!!!