When I put the '95 LT1 into my truck I was told NOT to use Synthetic oil as it causes these particular motors to leak (something about the molecules being smaller than in regular oil). Makes no sense to me but this was a suggestion from a guy that has 4 cars with the LT1.
*** Also DO NOT REMOVE THE 3/8" STEEL LINE FROM THE REAR PASSENGER SIDE OF THE MOTOR. It's there to help relieve some of the heat built up in the backside of the motor by sending hot coolant directly from this area back to the radiator. If you eliminate it you will probably have an intake manifold leak in the future. You'll also notice it passes throught the intake. This is for heating up the throttle body in the winter. You can bypass the throttle body if you only run this motor in warm weather or warm parts of the country (you pickup 5HP if I remember correctly).
If anyone needs a Water Pump, Optispark, etc. you may want to contact these guys
http://www.rmsautoparts.com/ as they've taken over Dal Slabaugh's parts business. No one could touch his prices and fast service (his parts were about 1/3rd of what I would have paid in Canada and they were in GM/Delco boxes not from J.A.Pan Ltd). I don't know anyone that has used this source but it may be worth your time.