When you buy an older Corvette, a good post-purchase project for a Saturday afternoon is to completely refresh the ignition system. On the About.com Project Corvette, I discovered that the #1 spark plug was entirely caked in gunk, and it was keeping that cylinder from firing! This was a result of the broken brake vacuum booster servo I fixed a few weeks ago, but it still needed attention, and it wasn't an obvious fix.
I completely refreshed my Corvette's ignition system with upgrade parts in just a couple hours. It's an easy and satisfying project, with noticeable results. The total cost was about $300 for everything I needed. I wrote two articles about this project - the first covers general issues with restoring your ignition, and the second is a step-by-step how-to article covering the installation. You can do this project with a spark plug wrench and a pair of screwdrivers, so this can really be accomplished in your garage. Read these articles and learn how easy it is to become your own mechanic!