I would like to know what the intended purpose of the car would be. 1LE is for track duty. ZL1 is for track duty. Is this another track car or is it just a "we need to dump the LS7 stuff since Z06 isn't using it anymore" run to make use of existing parts.
With a manual trans only, it's going to be problematic to launch on a 1/4 mi w/o the correct controls and/or driver -- we've seen this repeatedly, even with the PTM on the manual ZL1s. Though, this variant shouldn't have the heat issues that that ZL1s are currently facing, so it should be a little more stable in back2back runs and such.
If it's intended to be a 1/4 mi racer, I'd rather see it in an auto -- but, that ain't happening if it's powered by the LS7 -- unless GM pulls an Ace out of some hidden sleeve.