I own both a 2002 GTS and a 2003 Z06 electron blue, both factory stock. The Z06 is my daily driver, it's comfortable enough to drive everyday and gets very respectible gas mileage, high teens around town and got up to 27.5 mpg on the highway, it gets just as good a mileage as my wife's Accord. Its has more than enough power to get by. It's not a torque brute like the Viper, but it does have very good linear power. For comparison, I did the quarter in 12.4 on my GTS and a 12.6 on my Z06, both on factory stock tires. The Z is much more forgiving, easier to learn and flog around, whereas the Viper there's a learning curve and the pedals skewed to the left although it seems easier to me to heel/toe with the Viper. I've since swapped out my Goodyear F1SC's on the Z for PS2's and the PS2's are noticeably better tires, quieter and grippier. Driving around town even at stock height, you still want to be careful on steep dips and driveways as well as those parking lot tire stoppers.
Issues I had since owning it: Steering column lock, which I now have a column lock bypass (CLB). Right side window motor got stuck one day, I just took off the door panel and banged on the motor and it freed itself working again. Rear diff oil purged out from the top vent valve on a prolonged high speed run, just refilled diff oil. Active handling/ABS service on the DIC (Driver Info Center) display, this gizmo pops up every now and then, and I still don't know if it's the ABS module or a bad connection/ground. Nearly all electronic related, except for the diff oil purge. Other than that, no mechanical issues to speak of. I flush out the brake and clutch fluid once a year and change the oil when the oil life gets down to 20%, also about once a year. These are common for C5's. If you can live with that, then you'll enjoy the C5 Z for a daily driver as well as I have.