Gears help with acceleration and that sort of stuff, and the wider wheels give a wider contact patch for grip. The 1LE doesn't have fully forged wheels though, just rotary forged. The airlift kit will help hadling some, but there's a reason that racing cars use coils. The 1LE also has a close ratio gear box. The 1LE will not get as good of mileage though, I always say that you can do it cheaper yourself than GM.
I Ain't About That Stock Life.