The 4L60 has a 3.06:1 1st gear and the 6L80 has a 4.03:1 1st gear. For a reference, the C6 08+ Corvettes with the 6L80 come with a standard 2.56:1 ratio or an optional 2.73:1 'performance' ratio.
With the torque this 406 already makes, I am tempted to try the 2.56:1 rear with the current 4L60 trans.
And these are C5 Z06 replicas 17"x8.5" front, 18"x9.5" rear. I have them to clear the future brake upgrade. The factory wheels won't clear the front rotors I'm looking at getting.
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Fully sequential port fuel injection
406 sbc 350hp @4800 425lb-ft @3600
4L60e trans .70 OD, 3.23:1 rear, 26" dia. tire, 1,600rpm @55, 2,050rpm @70
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