IMHO thats a great price for that car. Dont let the bad paint deter you, they ALL do it unless theyre garage queens. Its an L98 car, the body is straight, the interior is CLEAN (the cup holders are even there!!! I broke one of mine at 40,xxx miles), the mielage is fairly low, engine is clean and looks bone stock. Its even got the factory CD player, thats VERY RARE. If you take it out, dont get rid of it, thats something youll want to hold on to. No doubt that you easily got your moneys worth.
Dont be surprised its not going to be as fast as your LS1. Thats just how it goes... but, the interior is alot more spaceous and the car will handle better... its a car with feeling, I think your gonna love it!
Oh, and you can still call it a WS6 too.