It really depends on the Owner, if you are the type to never mod a single thing... the '02 is a better buy. If you are the type to do limited bolt on's, it makes no sense to trade up, or purchase an '02.
The nitty gritty difference comes down to...
Revised Rear Shocks... (Trust me... they wont be revised enough to be as good or better than a real performance shock like Koni or Penske) I have Penske's on my '01 Z-06
No MAF Screen (Simple Addition, though I would recommend PCM tuning as well.)
6" Square hole in Airbox, instead of 2" Square... again easily changed/swapped. Even better would probably be a Halltech, or the like.
Slightly bigger Camshaft & Lighter Valves with Increased Valve Springs. This is where you have to make up your mind... If you like to mod cars... this is a bad choice... why spend the dough, and the remove the only true difference between an '01 & an '02?
Instead of 400 Crank HP... you can have 400 RWHP with any of the Major Tuners. (Actually a lot are getting 390+ out of just camshaft & Exhaust! /phpBB/images/smiles/icon_eek.gif )
And of course... if you gotta have HUD... you gotta have an '02...
And if you gotta have White... You gotta have an '01
(I HAVE TO HAVE WHITE!) I love the color to much, especially in AZ!
Peace, enjoy whichever car you choose! You will love either one!
Dave